Which of the following is not acceptable in estimating uncollectible accounts receivable under GAAP?
A) The estimate of uncollectible accounts is based on a percentage of sales for the period.
B) The estimate of uncollectible accounts is based on a percentage of the accounts receivable balance at the end of a period.
C) The estimate of uncollectible accounts is based on an aging schedule.
D) No estimate of uncollectible accounts is made; accounts are written off when it is determined they cannot be collected.
Correct Answer:
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