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To calculate the price elasticity of demand, we divide
Net Sales
The amount of sales revenue remaining after deducting returns, allowances for damaged or missing goods, and discounts.
Accounts Receivable
Funds that customers owe to a business for products or services that have been received but remain unpaid.
Bad Debt Expense
The cost associated with accounts receivable that a company is unable to collect.
Allowance for Doubtful Accounts
A contra-asset account used to estimate the portion of receivables that may not be collected.
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