The allowance method for uncollectible accounts is required by GAAP because it conforms to the matching principle.

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The allowance method matches estimated uncollectible accounts with the revenues they helped generate in the same accounting period, which conforms to the matching principle of GAAP. This ensures that expenses are recognized in the same period as the revenues they helped generate, resulting in a more accurate representation of a company's financial performance.

The Allowance Method for Uncollectible Accounts Is Required by GAAP