Fill in the blank. Use the word given in the box to fill the blank. Assume today is September 15, 2021. 1. A check written today and dated November 1, 2021 is a _____________. 2. A check written today and dated June 15, 2021 is a _________________. 3. A check received today from customer dated February 15, 2021 is a ____________. 4. A check written today and dated September 15, 2021 is a ___________________. 5. A check that is payable to “Cash” is a _______________. 6. The institution in which the depositor’s bank account is maintained is the __________. 7. The owner of bank account whose signature appears on check is the ________. 8. The person entitled to the payment of check is the _________________. 9. A check with two parallel lines at the left corner of the check is ___________. 10. A check payable to individual whose name appears on check is a ____________
Bad Debts
At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
III. Direction: Fill in the blank. Use the word given in the box to fill the blank.
Assume today is September 15, 2021.
1. A check written today and dated November 1, 2021 is a _____________.
2. A check written today and dated June 15, 2021 is a _________________.
3. A check received today from customer dated February 15, 2021 is a ____________.
4. A check written today and dated September 15, 2021 is a ___________________.
5. A check that is payable to “Cash” is a _______________.
6. The institution in which the depositor’s bank account is maintained is the __________.
7. The owner of bank account whose signature appears on check is the ________.
8. The person entitled to the payment of check is the _________________.
9. A check with two parallel lines at the left corner of the check is ___________.
10. A check payable to individual whose name appears on check is a ____________
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