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Because people usually exploit opportunities to make themselves better off,if the price of gasoline rises and stays high for an extended period,we expect people to:
Uncollectible Receivables
Financial claims that are recognised as losses because they cannot be collected, typically due to debtor default.
Allowance for Doubtful Accounts
A contra-asset account used to estimate the portion of a company's accounts receivable that may not be collected.
Receivable
An amount due to be received by a company for goods or services provided on credit; an asset on the balance sheet.
Selling Merchandise
The act of offering goods for sale to consumers in exchange for money.
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