Accounts Receivable and Bad Debts Expense (Word Scramble)

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1. Collections of amounts from customers who had purchased on credit are ___________ to Accounts Receivable. CREDITED TRICDEED Unscramble
2. When sales terms are FOB______________ title passes at the buyer's location. DESTINATION INTDAOISETN Unscramble
3. The valuation account associated with Accounts Receivable is the _____________ for Doubtful Accounts. ALLOWANCE OWNACLALE Unscramble
4. When terms are 2/10, n/30, the seller is allowing a 2% _________ if the invoice is paid within 10 days. DISCOUNT TUSIDCON Unscramble
5. Sorting the accounts receivable according to the dates of the sale invoices is the _________ of accounts receivable. AGING IGAGN Unscramble
6. The percentage of ______________ method for bad debts focuses on the balance reported in the allowance account. RECEIVABLES SBEEARIVLEC Unscramble
7. The percentage of ______ method for bad debts focuses on the expense reported on the income statement. SALES EASSL Unscramble
8. The _________ write-off method for bad debts is required for income tax purposes. DIRECT EIDRTC Unscramble
9. Accounts receivable is reported as a __________ asset. CURRENT EUCTNRR Unscramble
10. Annual credit sales divided by the average balances in accounts receivable is the receivables _________________ ratio. TURNOVER ERTVRUNO Unscramble

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