To see each answer, press or click on the blue "Unscramble" button. If you have difficulty answering the following questions, learn more about this topic by reading our Accounts Receivable and Bad Debts Expense (Explanation).
1. Collections of amounts from customers who had purchased on credit are ___________ to Accounts Receivable.
CREDITED EITECDRD2. When sales terms are FOB______________ title passes at the buyer's location.
DESTINATION ESTIDINNATO3. The valuation account associated with Accounts Receivable is the _____________ for Doubtful Accounts.
ALLOWANCE AECOLALNW4. When terms are 2/10, n/30, the seller is allowing a 2% _________ if the invoice is paid within 10 days.
DISCOUNT IDCSNOUT5. Sorting the accounts receivable according to the dates of the sale invoices is the _________ of accounts receivable.
AGING GIGAN6. The percentage of ______________ method for bad debts focuses on the balance reported in the allowance account.
RECEIVABLES EEBALIRVCES7. The percentage of ______ method for bad debts focuses on the expense reported on the income statement.
SALES LSSEA8. The _________ write-off method for bad debts is required for income tax purposes.
DIRECT DITCRE10. Annual credit sales divided by the average balances in accounts receivable is the receivables _________________ ratio.
TURNOVER UROTEVNR
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