Examlex
What method for the allowance procedure emphasizes the net realizable value of accounts receivable on the balance sheet?
Bad Debt Expense
An estimated expense that represents the amount of receivables that a company does not expect to collect due to customers' inability to pay.
Allowance for Doubtful Accounts
An estimation of the amount of accounts receivable that may not be collectible, serving as a contra asset account.
Aging Method
An accounting technique used to estimate the amount of bad debt expense by classifying accounts receivable according to their age.
Credit Sales
Transactions where the buyer is allowed to pay for goods or services at a later date, rather than at the time of purchase.
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