Answer these questions about receivables and uncollectibles. For the true false questions, explain any answers that tum out to be false. (Leave the "Explanation of false answer cell blank if the statement true) (Click on the icon to view the questions.) 1. True or false? The direct write-off method of accounting for uncollectibles understates assets Explanation of false answer i TIF False 2. Calfomia Bank lent $240,000 to Sacramento Company on a six-month, 8% note. Which party has in one month after Sacramento Company signs the note? California Bank lent $240,000 to Sacramento Company on a six-month, 6 has interest receivable and interest revenue These organizations will record interest of S has in one month after Sacramento Company sign 3. When California Bank accrues interest on the Sacramento Company note, show the directional effe More info 1. True or false? The direct write-off method of accounting for uncollectibles understates assets 2. California Bank lent $240,000 to Sacramento Company on a six-month, 8% note which party has interest receivable? Which party has interest payable? Interest expense? Interest revenue? How much interest will these organizations record one month after Sacramento Company signs the note? 3. When Calfomia Bank accrues interest on the Sacramento Company note, show the directional effects on the bank's assets, labilities, and equity (increase, decrease, or no effect) 4. True or false? Credit sales increase receivables Collections and write-offs decrease receivables 5. Which receivables figure (he total amount that customers owe the company, or the net amount the company expects to collect) is more interesting to investors as they consider buying the company's shares? Give your reason 6. Show how to determine net accounts receivable Calfomia Bank Assels Equity 4. True or false? Credit sales increase receivaties Collections and write-offs decrease receivables TIF True Explanation of false answer Print Done 5. Which receivables figure (the total amount that customers owe the company, or the net amount the company expects to collect) is more interesting to investors as they consider buying the company's shares? Give you of the amount the company will crobably collect in cash vi amount of receivables is more interesting because it is The