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If a company's profitability is higher than the industry average, it has a competitive advantage.
Uncollectible Receivables
Financial debts owed to a company that are deemed uncollectible and written off as a loss.
General Journal
The two-column form used for entries that do not “fit” in any of the special journals.
Notes Receivable
Formal promises in writing that obligate the signer to pay the holder a specified sum of money either on demand or at a future date.
Accounts Receivable
Funds that customers owe to a business for products or services that have been provided but remain unpaid.
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