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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Why is the direct write-off method not GAAP?

To determine

Direct write-off method:

The direct write-off method is one of the methods used for recording the bad debt expense in the books. This method is used only at the time when the bad debts are confirmed to be uncollectible.

The reason for not considering the direct write-off method as GAAP.

Explanation

The direct write-off method is the one in which the bad debt expense is recognized only after ascertaining the non-payment of the account receivables i.e. proof of bad debts and after that only...

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