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Which method of recording bad debts loss is consistent

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Reference no: EM132813385

Problem 1: In the case of long-term installments receivable (real estate installment sales) where a major portion of the receivables would be collected beyond the normal operating cycle

a. The entire receivables are shown as current without disclosure of the amount not currently due.

b. The entire receivables are shown as noncurrent.

c. Only the portion currently due is shown as current and the balance as noncurrent.

d. The entire receivables are shown as current with disclosure of the amount not currently due.

Problem 2: Which method of recording bad debts loss is consistent with accrual accounting?

a. Allowance method

b. Direct writeoff method

c. Percent of sales method

d. Percent of accounts receivable method

Reference no: EM132813385

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