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TERM PHRASE NUMBER 1. Interest-bearing note The risk of uncollectibility is retained by the seller. 2. Direct write-off Requires payment of principal plus interest. method

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TERM PHRASE NUMBER 1. Interest-bearing note The risk of uncollectibility is retained by the seller. 2. Direct write-off Requires payment of principal plus interest. method 3. Factoring with Recognizes bad debts when accounts recourse become uncollectible. 4. Internal control Includes separation of duties. 5. Income statement Bad debt expense is a percentage of credit approach sales

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