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| LO4 – Explain, calculate, and record estimated uncollectible accounts receivable and subsequent write-offs and recoveries. |
Recall that the revenue portion of the operating cycle, as shown in Figure 7.6, begins with a sale on credit and is completed with the collection of cash. Unfortunately, not all receivables are collected. This section discusses issues related to accounts receivable and their collection.
Figure 7.6 Revenue Portion of Operating Cycle
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