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chp 9 sec 1
Question | Answer |
---|---|
acid test ratio | sum of cash and investments "acid" |
aging of accounts method | the accounts getting old |
money for doubtful account | money for doubtful |
allowance for uncollectible accounts | allowance for uncollectible |
allowance method | ALLOWANCE method recording collection losses |
collection period | collect the periods |
creditor | party to a credit transaction "credit" |
debtor | party to a credit transaction "debit" |
dishonor of a note | failure to pay a note payable |
direct write off method | company decides that a customers A/R is uncollectible |
discounting "selling" a note receivable | selling a note receivable before its time |
due date | date when final payment of a note is due "funny movie" |