=+Planet.com, a computer consulting firm, has decided to write offthe $12,175 balance of an account owed by
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=+Planet.com, a computer consulting firm, has decided to write offthe $12,175 balance of an account owed by a customer. Illustrate the effects on the accounts and financial statements to record the write-off
(a) assuming that the direct write-offmethod is used, and
(b) assuming that the allowance method is used.
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