COMPLETION STATEMENTS ​1.​Notes and accounts receivable that result from sales transactions are often called______________ receivables.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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COMPLETION STATEMENTS

​1.​Notes and accounts receivable that result from sales transactions are often called______________ receivables.

 

​2.​Two accounting problems associated with accounts receivable are (1) ______________ and (2) ______________ accounts receivable.

 

​3.​The net amount expected to be collected in cash from receivables is the _____________.

 

​4.​When credit sales are made, _________________ Expense is considered a normal and necessary risk of doing business on a credit basis.

 

​5.​The two methods used in accounting for uncollectible accounts are the ____________ method and the ______________ method.

 

​6.​Allowance for Doubtful Accounts is a_____________ account which is ______________ from Accounts Receivable on the balance sheet.

 

​7.​When the allowance method is used to account for uncollectible accounts, ____________ is debited when an account is determined to be uncollectible.

 

​8.​The _________________ basis of estimating uncollectibles normally results in the best approximation of _______________ value.

 

​9.​A 75-day note receivable dated July 5 would mature on ______________.

 

​10.​Collection of a note receivable will result in a credit to ______________ for the face value of the note and a credit to ______________.

 

​11.​A note that is not paid on the maturity date is said to be ______________.

 

​12.​A concentration of ______________ is a threat of nonpayment from a single customer or class of customers.

 

​13.​Ratios used to assess the liquidity of accounts receivable are ______________ and  _______________.

 

​14.​A finance company or bank that purchases receivables from businesses is known as a ______________.

 

 

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