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Which of the following is true for a company who uses the allowance method of accounting for uncollectible accounts?



A. Bad debt expense is recorded when a specific account is known to be uncollectible.
B. Bad debt expense is recorded after all of the current year s credit sales are collected.
C. Bad debt expense is recorded during the year of the credit sale
D. Bad debt expense is only recorded if they exceed 10% of credit sales.

This question is part of Financial Accounting Exam II, quiz questions
Asked by Mm, Last updated: Aug 11, 2020

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Answered Feb 17, 2019

Bad debt expense is recorded during the year of the credit sale
 

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