Examlex
A corporation has the same basic rights to perform acts and enter into contracts as a physical person.
Bad Debt Expense
An expense recorded to account for receivables that are expected not to be collected.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services that have been delivered or used but not yet paid for.
Net Sales
The total revenue a company generates from sales after subtracting returns, allowances, and discounts.
Increase in Accounts Receivable
A situation where the amount of money owed by customers to a company grows due to sales on credit outpacing payments received.
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