E. reduces the Construction in Progress account. v An estimated loss on a long-term contract... : does not affect the total amount of profit or loss recognized on the contract. QUESTION 3 Match the term with the appropriate phrase. Write-off of accounts receivalbe Sales retuns Separation of duties Balance sheet approach Accounts Receivable A. Determines bad debt expense by estimating the allowance for uncollectible accounts and adjusting the balance accordingly B. C. D. Has no effect on net receivables when using Os a contra revenue account Is of vital importance for good internal control the allowance method E. Are reported at the amount expected to be received Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ans