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    key take-aways: accounts receivable, plant assets, natural

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    Please reflect upon one of your key take-aways from the learning of the following chapters and describe how you may apply it to your work or life.

    Accounting for receivables and
    Plant assets, natural resources and intangible assets.

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    Solution Preview

    The concept that comes to mind is the allowance for doubtful accounts. Although we "expect" everyone to meet their commitments, it is not prudent to plan as if everyone will keep their commitments. So, I need to have some contingency plan for non-payment of my roommates, ...

    Solution Summary

    Your tutorial is 168 words and gives two examples of key take-aways applicable to my life: useful life and allowance for bad debts.