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Jones Co.sells on credit and maintains an allowance for doubtful accounts equal to 2% of the company's $3,450,000 receivables balance.Due to a cash shortfall,Jones sells $275,000 of its receivables with recourse to Ninth National Bank,and the bank withholds $12,000 from the factoring proceeds to cover possible noncollections.If the noncollections eventually amount to $15,000,the entry on Jones' books when notified of this fact would be:
Richest 20%
The segment of a population that holds the highest 20% of wealth or income.
Poorest 20%
Refers to the lowest quintile in an income distribution, representing the 20% of the population with the lowest income.
Faith Ringgold
Faith Ringgold is an American artist known for her narrative quilts that address issues of race, gender, and politics in the United States, blending visual art with story-telling.
Artistic Medium
The material or method used by an artist to create artwork, such as oil paint, sculpture, digital media, and more, each offering different possibilities and limitations for expression.
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