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Lucy the Cat Learns That Every Time She Is Given

question 84

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Lucy the Cat learns that every time she is given a bowl of yummy tuna fish by her daddy,she hears the sound of the can opener first! Over time,she learns to come running into the kitchen every time she hears the sound of the can opener.This is an example of __________.


Definitions:

Allowance Method

An accounting technique that estimates and reduces accounts receivable to reflect only amounts expected to be collected.

Allowance Method

A technique in accounting used to account for bad debts, where anticipated uncollectible accounts receivable are estimated and recorded.

Adjusting Entry

Journal entries made in accounting to update records for expenses and revenues not recorded during an accounting period.

Bad Debt Expense

The estimated amount of accounts receivable that a company does not expect to collect, recognized as an expense on the income statement.

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