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(3pts) 9) The Aging Schedule method is a Refinement method of the percentage of Net Credit approach to estimate bad debts. Its goal is to

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(3pts) 9) The Aging Schedule method is a Refinement method of the percentage of Net Credit approach to estimate bad debts. Its goal is to categorize the various individual accounts receivable according to the length of time each has been outstanding. The older an account receivable is, the less likely it is to be collected True False 10) The detail for a number of individual items that collectively make up a single general ledger account is a: (Select 13pts) Control Account Subsidiary Account All of the above None of the above 11) Recourse means if the original customer fails to pay the bank the total amount due on the maturity (3pts) date of the note, the company that transferred the note to the bank is liable for the full amount. OTrue False

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