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__________ explain changes in cost factors other than changes in units produced.
or
Balance Sheet Approach
A method for valuing accounts that focuses on determining net realizable values for balance sheet items.
Credit Sales
Sales transactions where the payment is deferred, allowing the buyer to purchase goods or services on credit.
Bad Debts Expense
An expense reported on the income statement, representing accounts receivable that a company does not expect to collect.
Income Statement Approach
A method for creating an adjusting entry for bad debts by estimating uncollectible accounts based on income statement figures.
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