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Which of the following is the first step in the delegation process?
Credit Sales
Sales of goods or services that are paid for at a later date, extending credit to customers.
Bad Debt Expense
An expense reported by businesses to account for receivables that are no longer collectible, affecting the net income.
Allowance for Doubtful Accounts
A contra-asset account on the balance sheet, estimating the amount of receivables that are expected to be uncollectible.
Uncollectible Accounts Receivable
Debts owed to a company that are considered unlikely to be recovered, often due to the debtor's inability to pay.
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