PUHSD Acct 3 Les 14-1 & 14-2 Vocab

Front

Assumes a percent of credit sales will be uncollectible

Back

percent of sales method

Front

Difference between an asset's balance and its contra account balance

Back

book value

Front

Accounts receivable a business expects to collect

Back

net realizable value

Front

Method using accounts receivable analysis to estimate uncollectibles

Back

percent of accounts receivable method

Front

Difference between Accounts Receivable and Allowance for Uncollectible Accounts

Back

book value of accounts receivable

Front

Canceling a customer's account balance due to non-payment

Back

writing off an account

Front

Accounts receivable that cannot be collected

Back

uncollectible accounts

Front

Crediting estimated uncollectible accounts to a contra account is called the __________ of recording losses.

Back

allowance method

Front

Analyzing accounts receivable by due date

Back

aging of accounts receivable

Front

Recording uncollectible accounts expense only when known uncollectible.

Back

direct write-off method