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$7\mathrm{.}5$ Impairment of Accounts Receivable

Which of the following statements is true?

The percentage$-$of$-$receivables method focuses on the statement of cash flows, whereas the percentage$-$of$-$sales method focuses on the statement of income.

The percentage$-$of$-$receivables method focuses on the statement of financial position, whereas the percentage$-$of$-$sales method focuses on the statement of cash flows.

The percentage$-$of$-$receivables method focuses on the statement of income, whereas the percentage$-$of$-$sales method focuses on the statement of financial position.

The percentage$-$of$-$receivables method focuses on the statement of financial position, whereas the percentage$-$of$-$sales method focuses on the statement of income.

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