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Multiple Choice: The Allowance Method for bad debts: *Should be used if uncollectible accounts have a material effect on the company's financial statements used by
Multiple Choice: The Allowance Method for bad debts:
*Should be used if uncollectible accounts have a material effect on the company's financial statements used by investors and creditors,
*complies with GAAP,
*Estimates bad debt expense and establishes an allowance or reserve for uncollectible,
*All the choices are correct.
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