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Accounting for Receivables and Inventory Cost Flow


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    1. Narrated Slides (Chapter Content)

After you have mastered the material in this chapter, you will be able to:
  1. Explain how the allowance method of accounting for uncollectible accounts affects financial statements.

  2. Determine uncollectible accounts expense using the percent of revenue method.

  3. Determine uncollectible accounts expense using the percent of receivables method.

  4. Explain how accounting for notes receivable affects financial statements.

  5. Explain how accounting for credit card sales affects financial statements.

  6. Explain how different inventory cost flow methods (specific identification, FIFO, LIFO, and weighted average) affect financial statements.











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