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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 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|