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Which of the following statements about accounts receivable is false? Group of answer choices The allowance method is required by the IRS for tax deductions.

Which of the following statements about accounts receivable is false? Group of answer choices The allowance method is required by the IRS for tax deductions. Factoring is the sale of accounts receivable to a financial institution. The allowance method attempts to recognize bad debt expense in the same period that the related sale was made. The pledging of accounts receivable means that they are used for collateral on a loan.

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