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To prevent a person from suffocating, do the following except
Allowance Account
An account used in accounting to reflect anticipated losses from accounts receivable that might not be collected.
Direct Write-Off Method
A method of accounting for bad debts whereby companies directly remove (write off) uncollectible amounts from accounts receivable when they are deemed uncollectible.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.
Net Realizable Value
The estimated selling price of an item in the ordinary course of business minus any costs associated with the sale or disposal of the item.
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