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In the real world of business, not all customers pay the balance they owe from purchases they made on account. Some customers' accounts receivable become

In the real world of business, not all customers pay the balance they owe from purchases they made on account. Some customers' accounts receivable become uncollectible and must be written off by the company. Explain the two methods of accounting for uncollectible accounts. Which method is required by GAAP? Explain why

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