Please answer the following questions based on your readings, lecture materials, and research of the FASB Accounting Standards Codification. Responses should be in your own words. You are allowed to quote language from other sources, but please do not plagiarize. Any information used from other sources must be cited. There is no requirement to utilize any specific citation format, so long as the author is given credit.

7) Locate the FASB Codification Standard that addresses accounting for losses from uncollectible receivables and answer the following questions (use paragraph citations) 15 pts

a) What is the code section number that addresses accounting for losses from uncollectible receivables?

b) When should an accrual for losses from uncollectible receivables be made?

c) What happens if a company cannot make an estimate of potentially uncollectible receivables?