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A patient's record contains the following order: "Mary Black is stable and has no complaint of pain. Wound is healing. No fever or chills. No medications given and no restrictions. She can be released home in the morning. To be seen in my office in two weeks." This is an example of a
Accounts Receivable
Liabilities of customers to a business entity for services or products provided but still awaiting payment.
Bad Debts Expense
An estimated expense that represents accounts receivable that a company does not expect to collect.
Normal Balance
Normal balance refers to the side of the accounting equation on which increases to an account are recorded, which is debits for asset and expense accounts, and credits for liability, equity, and revenue accounts.
Allowance for Doubtful Accounts
An account that offsets assets, designed to predict the amount of a company’s accounts receivable that is likely to be uncollectible.
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