Distinguish between the percentage of sales approach to applying the allowance method and the aging of accounts

Question:

Distinguish between the percentage of sales approach to applying the allowance method and the aging of approach.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...