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Simplify Complex Rational Expressions
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Allowance Method
A method of accounting for bad debts that involves estimating uncollectible accounts at the end of each period.
Reinstated Account
Refers to an account that has been reactivated after being suspended or closed, typically after addressing issues that led to its suspension or fulfilling necessary requirements.
Accounting Equation
The foundational principle in accounting that states assets equal liabilities plus equity.
Note Receivable
A financial asset representing a promise to receive a specific amount of money, sometimes with interest, from another party on a future date.
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