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check that was outstanding on last period's bank reconciliation was not among the cancelled checks returned by the bank this period, in preparing this period's

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check that was outstanding on last period's bank reconciliation was not among the cancelled checks returned by the bank this period, in preparing this period's reconciliation, the amount of this check should be: 26) A) Deducted from the bank balance of cash. B) Added to the book balance of cash. C) Added to the bank balance of cash. D) Deducted from the book balance of cash. E) Ignored in preparing the period's bank reconciliation. 27) The days' sales uncollected ratio is used to: 27) A) Identify the likelihood of collecting sales on account. B) Determine the number of days that have passed without collecting on accounts receivable. C) Estimate how much time is likely to pass before the current amount of accounts receivable is received in cash. D) Measure how many days of sales remain until the end of the year E) Measure the amount of cash sales during a period. 28) Merchandise with an invoice price of $2,000 was purchased on February 3, terms 2/15, 28) n/60. The company uses the net method to record purchases. The entry to record the cash payment of this purchase obligation on February 17 is: A) Debit Accounts Payable S1,960; debit Discounts Lost $40; credit Cash $2,000. B) Debit Accounts Payable $2,000; credit Merchandise Inventory $40; credit Cash $1,960. C) Debit Accounts Payable $1,960; credit Cash $1,960. D) Debit Accounts Payable $2,000, credit Discounts Lost $40, credit Cash $1,960. E) Debit Accounts Payable $2,000; credit Cash $2,000. 29) A voucher is an internal document or file: 29) A) Takes the place of a bank check. B) Prepared before the company orders goods to make sure that all goods are being ordered from an approved vendor list. C) Used as a substitute for an invoice if the supplier fails to send one. D) Prepared after an invoice is received. E) Used to accumulate information needed to control cash disbursements and to ensure that transactions are properly recorded

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