Which of the following statements is true? Check All That Apply Both the allowance method and the direct write of the GAAP pproved The direct write off method will only record an allowance when an is deemed collectible The allowance method requires management make an estimate of collection When an account is written off under the allowance method, bad debts expense will be recorded The direct write-off method will typically overstate accounts receivable on the balance sheet. Compared to the direct write-off method, the allowance method is considered to be a better application of the matching principle. The book value (or carrying value) of Accounts receivable which appears on the balance sheet is calculated by adding the Accounts receivable balance to the Allowance for collecble accounts balance