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Which of the following occurs when recording estimated uncollectible accounts using the allowance method? Increase Loss on Sales on Account and decrease Accounts Receivable Increase

Which of the following occurs when recording estimated uncollectible accounts using the allowance method?

Increase Loss on Sales on Account and decrease Accounts Receivable

Increase Bad Debt Expense and increase Allowance for Doubtful Accounts

Decrease Allowance for Doubtful Accounts and decrease Accounts Receivable

Increase Accounts Receivable and increase Allowance for Doubtful Accounts

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