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In the real world of business, not all customers pay the balance they owe from...

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Accounting

In the real world of business, not all customers pay the balance they owe from purchases they made on account. Some customers' accounts receivable become uncollectible and must be written off by the company. Explain the two methods of accounting for uncollectible accounts. Which method is required by GAAP? Explain why. Participate in follow-up discussion by adding an example or additional details to enhance your classmates post. (100 words and please don't reuse old chegg answers) Thanks!

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