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In Economics,the Total Amount Received for Selling a Good or Service

question 105

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In economics,the total amount received for selling a good or service is referred to as


Definitions:

Sale of Receivables

The process of selling outstanding invoices to a third party in order to receive immediate payment.

Allowance for Doubtful Accounts

An accounting estimate for the portion of accounts receivable that may not be collectible.

Bad Debt Expense

An expense account reflecting estimated uncollectible accounts receivable due to credit sales that are unlikely to be recovered.

Accounts Receivable

Funds owed to a business by its customers for goods or services delivered or used but not yet paid for.

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