Question: Explain why companies must use the Allowance Method, and not the Direct Write-Off Method, when dealing with collectible accounts. Then show a journal entry writing

Explain why companies must use the Allowance Method, and not the Direct Write-Off Method, when dealing with collectible accounts. Then show a journal entry writing off an account with both methods. Note: Please include actual amounts for this problem. The amounts can be made up, but a journal entry utilizing both methods must be included and the amounts need to make sense. PLEASE HELP!!!!!

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