Ch 14 Section 1 Review
Authored by Tyson Ellenberger
Business
9th - 12th Grade
Used 2+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What account is used when recording a loss because the accounts receivable cannot be collected?
Allowance for Uncollectible Accounts
Accounts Recievable
Income Summary
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ is the amount of accounts receivable a business expects to collects.
Book value
Net realizable value
Percent of sales method
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are methods for estimating the uncollectible accounts receivable?
Percent of sales method
Percent of AR method
Unpaid accounts method
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you analyze accounts receivable according to when they are due is known as...
Aging of accounts receivable
Book value of accounts receivable
Percent of sales
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You journalize the adjustment for Uncollectible Accounts for the month, which of the following is correct way to journalize the adjustment?
Uncollectible Accounts Expense Dr
Allowance for Uncollectible Accounts Cr
Uncollectible Expense Dr
Accounts Receivable Cr
Allowance for Uncollectible Accounts Dr
Accounts Receivable Cr
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