SHAREHOLDERS EQUITY is total assets minus total liabilities. It is the same as EQUITY, NET WORTH and stockholder's equity.
COLLATERAL NOTE is a note secured by collateral. Same as secured note.
ALLOWANCE METHOD is the accepted way to account for bad debt. Bad debt expense may be based on the percent of credit sales for the period, an aging of the accounts receivable balance at the end of the period, or some other method, e.g., percent of accounts receivable.
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