Examlex
One of the elements that many believe distinguishes a profession from other occupations is the acceptance of responsibility by its members for the interests of those it serves, which is often articulated in:
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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