Accounts Receivable and Uncollectible Accounts
FLASHCARDS
Allowance method
A method of recording uncollectible accounts that estimates losses from uncollectible accounts and charges
them to expense in the period when the sales are recorded
Allowance method
Reinstate
To put back or restore an accounts receivable amount that was previously written off
Reinstate
Valuation account
An account, such as Allowance for Doubtful Accounts, whose balance is revalued or reappraised in light of
reasonable expectations
Valuation account
Direct charge-off method
A method of recording uncollectible account losses as they occur
Direct charge-off method
Aging the accounts receivable
Classifying accounts receivable balances according to how long they have been outstanding
Aging the accounts receivable
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