Examlex
The percentage change in quantity demanded relative to the percentage change in price is referred to as
Allowance for Doubtful Accounts
A contra account that represents the estimated amount of accounts receivable which may not be collectible.
Adjusting Entry
An accounting record made to adjust revenues and expenses to match the accounting period they were incurred, ensuring compliance with the accrual basis of accounting.
Allowance Method
An accounting technique used to estimate uncollectible accounts receivable, acknowledging potential losses on credit sales.
Carrying Amount
The book value of assets and liabilities as reported on the balance sheet, after deducting any accumulated depreciation or amortization.
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