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What resources made the Minoans and Mycenaeans successful in developing complex states?
Percent of Sales Method
A financial analysis tool used to forecast future expenses or accounts such as bad debts, based on a percentage of sales.
Bad Debts Expense
Represents the amount of accounts receivable a business does not expect to collect and charges off as a loss in its financial statements.
Net Credit Sales
The total revenue from sales made on credit minus any returns or allowances.
Promissory Note
A fiscal device comprising a binding commitment from one party to another to remit a precise sum of money, which can be demanded anytime or on a predetermined date.
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