For the purposes of accrual accounting and the matching principal, an estimate is used until the actual amounts are realized. Those estimates can be reversed or adjusted as needed. How would a new company for example, determine what the allowance estimate should be? What are some examples?

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ESTIMATE An estimate is an approximate calculation or judgement of the value number quantity or extent of something HOW TO DEVELOP AN ESTIMATE 1 Review the Project Scope Dont start writing your estima... View the full answer