cl A credit to the A/R account in the general ledger and a debit to the customer's account in the accounts receiv A eredit to Sales and a credit to the customer's account in the accounts receivable ledger . A credit sale of $2,500 to a customer would resuk in: A) A debit to the A/R accoant in the general ledger and a debit to the B) A credit to the A/R account in the general ledger and a credit to the C) A debit to the A/R account in the general ledger and a credit to the customer's account in the Ci 2 Sellers allow custoemers to use credit cards: A) To avoid having to evaluate a customer's credit B) To lessen the risk of extending credit to customers w C) To speed up receipt of cash from the credit sale. To increase total sales volume. D) E) All of the above. A promissory note received from a customer in exchange for an account receivable: A) C2 3. Is a cash equivalent for the recipient. B) Is an account receivable for the recipient. C) Is a note receivable for the recipient. D) Is a short-term investment for the recipient. E) Is a note payable for the recipient C2 4. The maturity date of a note receivable: A) Is the day of the credit sale. B) Is the day the note was signed Is the day the note is due to be paid. Is the date of the first payment. Is the last day of the month. C) D) E) 5. The interest accrued on $3.600 at 796 for 60 days is: A) & 42. B) S 42 C) $252. D) $180. E) $420. C2 6. A 90-day note issued on April 20 matures on: A) July 17 B) July 18 C) July 19. D) July 20. E) July 21. C3 Pledging receivables as collateral for a loan: A) Allows firms to raise cash. B) Allows a firm to retain ownership of its receivables. C) Does not transfer risk of bad debts to the lender D) Should be disclosed in the financial statements. E) All of the above 7. Learning Obiective: C2 8. The accounting principle that requires financial statements (including notes) to report all relevant inf operations and financial condition of a company is called: A) Relevance. B) Full disclosure