The ________ method is a method of accounting for bad debts that involves estimating uncollectible accounts at the end of each period.
A written promise to pay a specified amount of money on demand or at a definite time.
An expense account to record uncollectible receivables.
_______ ______-______ method is a method of accounting for bad debts that involves expensing accounts at the time they are determined to be uncollectible.
__________-of-Receivable basis is where management estimates what percentage of receivables will result in losses from uncollectible accounts.
Amounts due from individuals or other companies.
__________ Collection period is the average amount of time that a receivable is outstanding. It is calculated by dividing 365 days by the Accounts Receivable Turnover.
_________ Receivables are notes and accounts receivables that result from sales transactions.
_________ receivable are amounts owed by customers on account.
Down
A finance company or bank that buys receivables from businesses and then collects the payments directly from the customers.
______ _________ Value is the net amount a company expects to receive in cash.
________ Receivable is a written promise for amounts to be received.
Accounts Receivable __________ is a measure of the liquidity of accounts receivable. It's computed by dividing Net Credit Sales by Average Net Accounts Receivable.
_________ note is a note that is not paid in full at maturity.
_______ receivables are non-trade related receivables.
The party in a promissory note who is making the promise to pay.
________ the Accounts Receivable is an analysis of customer balances by the length of time they have been unpaid.
The party to whom payment of a promissory note is to be made.
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