The Allowance for Doubtful accounts: Select one: a. Shows the amount of uncollectible accounts expense for the current period b. Shows the estimated amount of accounts receivable that will not be collected. c. Is recorded on the Income Statement as an expense d. Reduces the balance in accounts receivable on the balance sheet to arrive at the net cash realizable value of the receivables. e. Both B and D Under the allowance method for uncollectible accounts: Select one: a. Net Accounts receivables on the balance sheet are not stated at cash realizable value b. Bad debt expense is recorded in the period the customer's account is written off (determined to be uncollectible) c. Companies debit the Allowance for Doubtful Accounts and credit Accounts Receivable at the time the specific account is written off as uncollectible d. All of the above Which of the following is a reason the allowance method of accounting for bad debts is required under generally accepted accounting principles rather than the direct write off method? Select one: a. Because the uncollectible accounts expense is recognized in the period when the receivable is actually written off. b. Accounts receivable on the balance sheet is understated if the direct write off method is used. c. The direct write off method records the uncollectible accounts expense in the same period the sale is recorded which results in better matching of expense with revenues. d. The allowance method records the uncollectible accounts expense in the same period the sale is recorded which results in better matching of expense with revenues