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When she first hears a particular song on the radio, Madelaine hates it. A lot of other people like it, though, and the song is played often, so whether she wants to or not, Madelaine hears it over and over. One day she realizes that she actually kind of likes the song. She tells a friend that the song has grown on her. Madelaine's feelings about the song changed, due to the
Allowance Account
An account used to offset the gross accounts receivable by the amount estimated to be uncollectible.
Accounts Receivable
Unsettled payments from customers to a business for goods delivered or services carried out.
Note Receivable
A financial asset representing a promise for future receipt of cash, typically arising from sales or loans, evidenced by a written promise to pay.
Account Receivable
Deferred payments from customers for the delivery or use of goods or services by a company.
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