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Accounts Receivable and Bad Debts Expense(Word Scramble)

Author:
Harold Averkamp, CPA, MBA

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 DEDTRCEI
CREDITED DERDTCIE

2. When sales terms are FOB______________ title passes at the buyer's location.

DESTINATION EIDATITSNON
DESTINATION STIAIONEDNT

3. The valuation account associated with Accounts Receivable is the _____________ for Doubtful Accounts.

ALLOWANCE NAAWEOCLL
ALLOWANCE EOWCALANL

4. When terms are 2/10, n/30, the seller is allowing a 2% _________ if the invoice is paid within 10 days.

DISCOUNT TNISODCU
DISCOUNT NDOITCUS

5. Sorting the accounts receivable according to the dates of the sale invoices is the _________ of accounts receivable.

AGING ANGIG
AGING GAIGN

6. The percentage of ______________ method for bad debts focuses on the balance reported in the allowance account.

RECEIVABLES CISLBREAEVE
RECEIVABLES ELIBSVAEERC

7. The percentage of ______ method for bad debts focuses on the expense reported on the income statement.

SALES SLAES
SALES SALES

8. The _________ write-off method for bad debts is required for income tax purposes.

DIRECT EICDRT
DIRECT TERICD

9. Accounts receivable is reported as a __________ asset.

CURRENT NECTRUR
CURRENT REUNTCR

10. Annual credit sales divided by the average balances in accounts receivable is the receivables _________________ ratio.

TURNOVER ROVENUTR
TURNOVER ENVUOTRR
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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