Which statement below regarding the direct writeoff method of accounting for bad debts is incorrect? Does not make estimates of future uncollectible accounts. Accounts are written off when they become uncollectible. Generally does not match expenses with revenues in the same period of time. Is acceptable for financial reporting purposes under GAAP. Question 2 XYZ Corporation estimates that 6% of accounts receivable will eventually become uncollectible. The balance of Acc more for Doubtful Accounts prior to adjustment has a credit balance of $750. The amo YZ Corporation estimates that 6% of accounts receivable will eventually become uncollectible. The balance of Accounts Recettes December 31 20 is $54,500. The Allowance for Doubtful Accounts prior to adjustment has a credit balance of 5750. The amount of the adjusting entry for Bad ebts Expense should be for the following amount $750. $3,270 $4,020 52.520. 3.44 pts estion 3 balance of Accounts Receivable was $1,500 at the beginning of the year. Credit sales for the year totaled $48,300 and collections of accounts Antolod $43.600. During the year, $3,800 of uncollectible customer accounts were written off. What is the balance of The balance of Accounts Receivable was $1.500 at the beginning of the year. Credit sales for the year old 543 500 tons of receivable during the year totaled $43,600. During the year. $3,800 of uncollectible customer accounts were written of what is the beard Accounts Receivable at the end of the year? O $900. O $6.200 $10,000 O $2,400. 3.44 Question 4 Under the allowance method, the entry to writeoff an uncollectible account of $2800 includes