Why does a company have to estimate and record anticipated uncollectible accounts? Can't we just record the revenues earned when the cash comes in? Why would we even extend credit to customers who don't pay their debts? What are these Generally Accepted Accounting Principles and which ones require this recording of revenues when earned and expenses when incurred, and the estimating of the bad debts? Provide an example of a standard policy for credit management in a company? formulate a policy for granting, managing, and collection of accounts receivable for Commerce Commercials. This policy will go into the company handbook and on credit applications given to new customers seeking the option to make purchases on credit