quiz1-accounting for rec.

If the account receivable BD 3000 and the allowance 5% the allowance for douubtful amount is:

• BD 1500

• BD 150

• BD 200

• BD 250

Visa card & Master card are classified as

• Cash sale

• Credit sale

• non of them

The correct entry to record credit card sale by Visa card is

• Dr Account rec

  Cr Sale

• Dr purchase

  Cr Account payable

• Dr Cash

  Cr Sale

• DrPurchase

  Cr Cash

If the amount of allowance for doubtful debts for year 2020 is BD5000 and there was a credit balance of BD500 in year 2019, Calculate the new amount of allowance:

• 5500

• 5000

• 4500

• 500

The correct entry for direct write off is

• Dr Bad debts exp.

  Cr Allowance for doubtful account

• Dr Account receivable

  Cr Allowance for doubtful account

• Dr Bad debts exp.

  Cr Account receivable

• Dr Allowance for doubtful account

  Dr Bad debts exp.