8. Apply revenue recognition to credit sales. 9. Know the difference between a trade discount and a sales discount and when to spply them. 10. Know the three contra revenues and when to apply them. 11. Know how to compute net revenue or net sales. 12. Understand when to, how to, and why we record bad debt expense. 13. Undentand what the allowance for uncollectible accounts is and how to determine the ending balance in the account, whien using the percent of receivables method, prior to preparing the period ending financial statements. 14. Know how to report accounts recelvable on the balance theet. 15. Know when and how to write off an account and understand which acceunts a write-off affects. 16. Be able to determine irterest revenue for any accounting period