Examlex
Which of the following is an approach advocated while teaching ethics?
Allowance Account
A contra asset account associated with accounts receivable that estimates the amount of receivables that may not be collected.
Doubtful Accounts
An estimate of the debts owed to a company that may not be collected, often listed as a contra account to accounts receivable.
Accounts Receivable
Funds that are yet to be paid by customers for the products or services they have received from a business.
Credit Sales
Credit Sales are sales made on credit, where the payment is received after the sale has been made, effectively extending a line of credit to the customer.
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