Exercise 7-09 b-c (Essay) The trial balance before adjustment of Chloe Inc. shows the following balances: Cr. Accounts receivable Allowance for doubtful accounts Sales revenue (all on credit) Sales returns and allowances Dr. $105,000 1,950 $684,000 30,000 From the perspective of an independent reviewer of Chloe's trial balance, comment on the unadjusted debit balance in Chloe's allowance for doubtful accounts at year end. LINK TO TEXT Assume Chloe reports under IFRS and has adopted IFRS 9. Should Chloe's approach to determining its Allowance for Doubtful Accounts consider "lifetime expected credit losses"? What is meant by this concept? Would a percentage-of-sales approach be appropriate for determining the Allowance for Doubtful Accounts under IFRS 9? Why or why not