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In the allowance method when we collect on a previously written off receivable

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Now students, it is important to remember that in the allowance method, when a previously written off trade receivable is collected, the corresponding amount is also written off against the account in the ledger books. Trade receivables, as you all know, refer to bills that have been received but not yet realized. It is only upon realization of these bills that the amount is written off from the ledger books in the firm's account. It is essential to note that this system is only applicable in the allowance method of accounting and bookkeeping. For further information about trade receivables, please refer to this link: brainly.com/question/13718450 #SPJ4. Now, to answer the question at hand: when we collect on a previously written off receivable in the allowance method...