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A gravitational "sling-shot":
Sales Returns
Transactions where customers return previously purchased merchandise, leading to a reversal of sales revenue.
Allowances Account
An account used to offset the gross accounts receivable balance for the estimated amount of uncollectible accounts.
Credit Sale
A transaction where the goods or services are provided to the customer with payment to be made at a later date.
Accounts Receivable
This refers to the amount of money customers are yet to pay a company for the products or services which have already been provided.
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