Business, 11.03.2020 03:00 cocobelle

Match each word or phrase with its description below. (a) Written promise (as evidenced by a formal instrument) for amounts to be received. (b) A method of accounting for bad debts that involves estimating uncollectible accounts at the end of each period. (c) A measure of the liquidity of accounts receivable, computed by dividing net credit sales by average net accounts receivable. (d) A method of accounting for bad debts that involves charging receivable balances to Bad Debt Expense at the time receivables from a particular company are determined to be uncollectible. (e) A finance company or bank that buys receivables from businesses for a fee and then collects the payments directly from the customers. (f) The net amount a company expects to receive in cash from receivables. (g) The threat of nonpayment from a single large customer or class of customers that could adversely affect the financial health of the company. (h) A note that is not paid in full at maturity. (i) A method of estimating the amount of bad debt expense whereby

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Answer from: gilbertnessa2107

A: Notes Receivable

B: Allowance Method

C: Accounts Receivable Turnover

D: Bad Debt Expense

E: Sales of Receivables

F: Net Realizable Value

G: Concentration of Credit Risk

H: Dishonored Note

I: Percentage-of-receivables basis

Answer from: alicia186

(a) Written promise (as evidenced by a formal instrument) for amounts to be received. NOTES RECEIVABLE: WRITTEN PROMISE TO PAY A CERTAIN AMOUNT THAT EXTENDS FOR MORE THAN 60 DAYS AND USUALLY CHARGE INTERESTS

(b) A method of accounting for bad debts that involves estimating uncollectible accounts at the end of each period. ALLOWANCE METHOD FOR UNCOLLECTIBLE ACCOUNTS: RECORDS AN ESTIMATE OF BAD DEBT EXPENSE IN THE SAME ACCOUNTING PERIOD AS THE SALE

(c) A measure of the liquidity of accounts receivable, computed by dividing net credit sales by average net accounts receivable. ACCOUNTS RECEIVABLE TURNOVER: MEASURES HOW MANY TIMES A COMPANY CAN COLLECT ITS ACCOUNTS RECEIVABLE DURING A YEAR.

(d) A method of accounting for bad debts that involves charging receivable balances to Bad Debt Expense at the time receivables from a particular company are determined to be uncollectible. DIRECT WRITE-OFF METHOD: IT WRITES OFF BAD DEBT AFTER IT IS DETERMINED TO BE UNCOLLECTIBLE

(e) A finance company or bank that buys receivables from businesses for a fee and then collects the payments directly from the customers. FACTORING: A THIRD COMPANY THAT PURCHASES ACCOUNTS RECEIVABLES FROM DIFFERENT COMPANIES AT A DISCOUNT AND COLLECTS THEM.

(f) The net amount a company expects to receive in cash from receivables. CASH REALIZABLE VALUE: NET AMOUNT THAT THE COMPANY EXPECTS TO COLLECT FROM ACCOUNTS RECEIVABLE.

(g) The threat of nonpayment from a single large customer or class of customers that could adversely affect the financial health of the company. CONCENTRATION OF CREDIT RISKS: WHEN A LARGE PERCENT OF A COMPANY'S ACCOUNTS RECEIVABLE BELONGS TO ONE OR A FEW COMPANIES AND THEIR DEFAULT COULD RESULT IN VERY NEGATIVE CONSEQUENCES

(h) A note that is not paid in full at maturity. DISHONORED NOTE: WHEN A PARTY DEFAULTS ON PROMISSORY NOTES

(i) A method of estimating the amount of bad debt expense whereby management establishes a percentage relationship between the amount of receivables and the expected losses from uncollectible accounts. PERCENT OF RECEIVABLES BASIS: THE COMPANY ESTIMATES A CERTAIN PERCENT OF TOTAL ACCOUNTS RECEIVABLE WILL BE UNCOLLECTED

Answer from: Quest

There is no graph so we cannot answer

Answer from: Quest

lives by a moral and ethical code

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