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Simplify. Assume that variables in the exponent represent nonzero integers and that all other variables are not 0.
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Note Payable
A written promise to pay a certain sum of money on a specified future date, which is a liability on a company's balance sheet.
Specified Amount
An exact or particular amount that has been agreed upon or is required within a certain agreement or context.
Written-off
The accounting practice of recognizing that an asset or receivable no longer has value and is unlikely to be collected.
Bad Debts Expense
The cost to a business of uncollectible accounts receivable.
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