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Which method of estimating doubtful account

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Problem 1: A method of estimating bad debts that focuses on the income statement rather than the statement of financial position is the allowance method based on

a. Direct writeoff

b. Aging the trade accounts receivable

c. Credit sales

d. The balance in trade accounts receivable

Problem 2: A method of estimating doubtful accounts that emphasizes asset valuation rather than income measurement is the allowance method based on

a. Aging the accounts receivable

b. Direct writeoff

c. Gross sales

d. Credit sales less returns and allowances

 

Reference no: EM132813388

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