Accounting



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Accounts Receivable and
Bad Debts Expense

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


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