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Most businesses extend credit to other businesses as a way of increasing sales. The risk is that some of the accounts may not pay the amount due. In these cases, we have to account for uncollectible receivables. (1) describe how the allowance method works and (2) provide an ex of a journal entry that would adjust accounts for the loss.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M958817

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