Gallatin Hardware is a small hardware store in the rural township of Willow Creek that rarely extends

Question:

Gallatin Hardware is a small hardware store in the rural township of Willow Creek that rarely extends credit to its customers in the form of an account receivable. The few customers that are allowed to carry are long-time residents of Willow Creek and have a history of doing business at Gallatin Hardware. What method of accounting for uncollectible receivables should Gallatin Hardware use? Why?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...