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Allowance method
A method of recording collection losses based on estimates before the actual determination that the business will be unable to collect such losses For example, at the end of the year a company will make an estimate of the uncollectible accounts receivable at that point in time The actual dollar amount of the accounts receivable that will be uncollected may not be known for certainty for many months or even years
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Accounting
- Category: Tax
- Company:
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- Acronym-Abbreviation:
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