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The May 1 and May 31 balances in accounts receivable are $35,000 and $36,000, respectively. During May, the company reported sales totaling $235,000 from its customers. The company incurred $211,000 of expenses, although $12,000 was not paid as of May 31. How much is cash flows from operations for May?
Uncollectible Account
A receivable that a company has deemed to be uncollectable from the debtor, often written off as bad debt or expense.
Accounts Receivable
Funds that are owed to a company by customers for goods or services delivered or used but not yet paid for, typically within a short-term period.
Allowance for Doubtful Accounts
A contra-asset account that represents the estimated portion of accounts receivable that may not be collectible.
Bad Debts Expense
The amount of receivables that a company does not expect to collect and thus writes off as a loss in its accounting records.
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