Lcaming Obiective: Ch7-C1-C3,A1, PI-P 6. Match each of the following terms with the appropriate defintion 1.Maker of a note Bad debes 3. Aging of accounts receivable 4. Interest 5. Promissory note 6. Payee of a note 7. Accounts receivable 8. Allowance for doubtful accounts 9. Realizable value 10. Matching principle 13. Principal of a note 16. Direct write-of 11. Allowance method -12. Installment accounts receivable 14. Full disclosure principle 15. Materiality principle 17. Dishonoring a note 18. Accounts receivable tunover 19. Factor A. A measure of both the quality and liquidity of accounts receivable. It indicates how often, on average, receivables are B. Amounts owed by customers from credit sales for which payment is required in periodic payments over an C received and collected during the period. period of time. The accounting principle that states that an amount can be ignored if its effect on the financial statements is unimportant D. Refers to a note maker inability or refusal to pay the note at maturity E. to their users. Amethod of accounting for bad debts that matches the estimated loss from uncollectible accounts receivable against the sales they helped to produce A buyer of accounts receivable who charges the seller a fee and then receives cash as the receivables come due. F. The accounting principle that requires the financial staterments (including the notes) to report all relevant information about operations and financial condition. One who signs a note and promises to pay it at maturity I H A method of accounting for bad debts that records the loss from an uncollectible account receivable when it is determined to be uncollectible. The amount that the signer of a note agrees to pay back when the note matures, not including interest. Amounts due from customers arising from credit sales. A process of classifying accounts receivable by how long it is past its due date for the purpose of estimating the amount of uncollectible accounts. J. K. L. M. A written promise to pay a specified amount either on demand or at a definite future date. N. The expected proceeds from converting an asset into cash O. The accounts of customers who do not pay what they have promised to pay a company. P. The accounting principle that requires expenses to be reported in the same period as the sales they helped to produce. Q. The cost of borrowing money for a borrower, alternatively the profit from lending money for a lender. R. A contra asset account with a balance approximating the amount of accounts receivable expected to be uncollectible S. The one to whom the promissory note is made payable. Ch7-P4 Failure by a promissory note's maker to pay the amount due at maturity is known as: A) Protesting a note. B) Closing a note. C) Dishonoring a note. D) Discounting a note. E) Depreciating a