18. Under the allowance method, writing off an uncollectible account A) affects only balance sheet accounts. B) affects both balance sheet and income statement accounts. C) affects only income statement accounts. D) is not acceptable practice. 19. The net amount expected to be received in cash from receivables is termed the A) cash realizable value. B) cash-good value. C) gross cash value. D) cash-equivalent value. 20. Syfy Company on July 15 sells merchandise on account to Eureka Co. for $3,000, terms 2/10, n/30. On July 20 Eureka Co. returns merchandise worth $1,200 to Syfy Company. On July 24 payment is received from Eureka Co. for the balance due. What is the amount of cash received? A) $1,740 B) $1.764 C) $1.800 D) $3,000 21. The existing balance in Allowance for Doubtful Accounts is considered in computing bad debts expense in the A) direct write-off method. B) percentage of receivables basis. C) percentage of sales basis. D) percentage of receivables and percentage of sales basis. 22. When the allowance method is used to account for uncollectible accounts, Bad Debts Expense is debited when A) a sale is made. B) an account becomes bad and is written off. C) management estimates the amount of uncollectibles. D) a customer's account becomes past-due. 23. When an account becomes uncollectible and must be written off, A) Allowance for Doubtful Accounts should be credited. B) Accounts Receivable should be credited. C) Bad Debts Expense should be credited. D) Sales should be debited