cost. cn an account receivable that was previously witten off is collected, t is necessary to revene the the write-off before recording the collection A) True B) False 21. Under the accounts receivable aging method, the balance in Allowance for Uncollectible Accounts s considered prior to adjusting for estimated uncollectible accounts. A) True B) False 22. A). True B) False Allowance for Uncollectible Accounts is a contra-asset account. 23. Uncollectible accounts must be estimated becauise it is not possible to know which accounts will collected. A) True B) False 24. Gross margin equals the difference between net sales and A) operating expenses. B) cost of goods sold. C) net income. D) cost of goods sold plus operating expenses. se the following to answer questions 25-27: Account Name Debit Credit ales ales Returns and Allowances les Discounts rchases rchases Returns and Allowances eight In 1ling. Expenses neral and Administrative Expenses 1,500 1,000 17,000 2,00 3,000 7,500 27,500 addition, beginning merchandise inventory was $5,500 and ending merchandise inventory Page 4 Page 2