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What is the distinguishing characteristic of what we call ordinary matter (such as the matter that makes up stars, planets, and people) ?
Net Income
The total profit of a company after all expenses and taxes have been deducted from total revenues.
Bad Debt Expense
An estimate of the accounts receivable that a company does not expect to collect, recognized as an expense.
Journal Entry
A record in the books of accounts that logs financial transactions, including debits and credits, in chronological order.
Credit Terms
Conditions under which a seller will extend credit to a buyer, including the repayment time frame, discount for early payment, and interest rate.
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