Accounting I Chapter 14 Review

Crediting the estimated value of uncollectible accounts to a contra account.

• dishonored note
• Allowance Method
• interest income
• maturity date

The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts.

• book value of accounts receiveable
• maturity value
• maturity date
• payee

The difference between an asset's account balance and its related contra account.

• writing off an account
• time of a note
• book value
• interest income

The amount of accounts receivable a business expects to collect.

• percent of accounts receivable method
• note receivable
• percent of sales method
• net realizable value

A method used to estimate uncollectible accounts receivable that assumes a percent of credit sales will become uncollectible.

• net realizable value
• interest income
• percent of sales method
• maker of a note

A method that uses an analysis of accounts receivable to estimate the amount that will be uncollectible.

• maturity date
• promissory note
• interest rate
• percent of accounts receivable method

7. Analyzing accounts receivable according to when they are due.

• false
• aging of accounts receivable
• maturity value
• maker of a note

Canceling the balance of a customer account because the customer does not pay.

• net realizable value
• true
• note payable
• writing off an account

A written and signed promise to pay a sum of money at a specified time.

• maturity value
• book value of accounts receiveable
• promissory note
• net realizable value

A promissory note signed by a business and given to a creditor.

• note payable
• interest income
• net realizable value
• percent of accounts receivable method