The preferred method of accounting for uncollectible accounts is the

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The preferred method of accounting for uncollectible accounts is the allowance method, which involves estimating the amount of uncollectible accounts and recording them as a contra asset account called allowance for doubtful accounts. This method is preferred because it follows the matching principle of accounting and provides a more accurate picture of the company's financial position. The direct write-off method is not preferred because it violates the matching principle and does not provide an accurate picture of the company's financial position. The net realizable method is not a method of accounting for uncollectible accounts, but rather a measure of accounts receivable that subtracts the estimated amount of uncollectible accounts from the total receivables balance. The actual method is not a common method of accounting for uncollectible accounts.

The Preferred Method of Accounting for Uncollectible Accounts Is the