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Retained Earnings
An amount earned by a corporation and not yet distributed to stockholders.
Dividends
Earnings distributed to stockholders.
Board of Directors
A group of persons elected by the stockholders to manager a corporation
Declaring a Dividend
Action by a board of directors to distribute corporate earnings to stockholders
Merchandise Inventory
Uncollectable Accounts
Accounts receivable that cannot be collected
Allowance Method for Recording Losses from Uncollectable Accounts
Crediting the estimated value of uncollectable accounts to a contra-account
Book Value
The difference between an asset's account balance and it's related contra account balance
Book Value of Accounts Receivable
The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectable Accounts
Current Asset
Cash and other assets expected to be exchanged for cash or consumed within one year
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