Question: Choose the correct statement ( s ) below regarding the direct write - off method for calculating credit loss expense. 1 . It is not

Choose the correct statement(s) below regarding the direct write-off method for calculating credit loss expense.
1. It is not normally consistent with GAAP and accrual accounting.
2. Its use tends to result in an overstatement of accounts receivable on the balance sheet.
3. Under this method, credit loss expense is recognized when a specific account is determined to be uncollectible.

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