Why do companies find it convenient to alter allowance for doubtful accounts to managearrings The Sarbanes-Oxley Act has closed off all other loopholes used to manage earnings Uncollectible account percentage is an estimate and can be justined based on management's discretion or opinion under GAAP It is one of the options that offers the greatest benefit to a company. O GAAP prescribes a range of allowances for doubtful accounts for each industry and management can choose any cumber within that range Bond Company recorded bad debt expense of $35,000 and wrote off accounts receivable of $20,000 during the current year. The net effect of these two transactions on net income was O a decrease of $55,000 O a decrease of $35,000. O a decrease of $20,000. O no effect