Match the following terms with the most appropriate definition Allowance method of accounting or bad debts Uncollectable accounts Choose... debit matches credit losses with related revenue and estimates net accounts receivable bad debts contra account to Accounts Receivable credit Choose... Allowance for Bad Debts Normal balance of Allowance for Bad Debts Normal balance for Accounts Receivable Choose... Following are terms associated with the estimation of bad debts. Match with the most appropriate definition. This method calculates the bad debt expense for the period This method calculates the balance of the allowance for bad debts Ageing of accounts receivable method is calculated by Percentage of sales method is calculated by Choose... ageing of accounts receivable method applying a differing percentage to each category of aged accounts receivables applying a percentage to net credit sales percentage of sales method Choose... We issue a 90 day bill payable for 36500 at 10% interest. Using days to prorata the interest on this bill will be Select one: a. 921 b. 900 C. 3650 d. 912 Ratios are a useful way to determine a business' performance. Match the following with the most appropriate definition or answer (you will need the information presented in the table below for some of the answers). Net Sales 32100 Net accounts receivable 3000 Net accounts receivable (previous year) 2800 Net Credit Sales 29500 Choose... 10.2 the number of days customers are allowed to pay 36 the faster the cash collection the number of times a business sells and collects the average receivables balance in a year how many days it takes to collect the average level of receivables Choose... Accounts receivable turnover ratio measures Using the above balances the accounts receivable turnover ratio is: The number of days in average accounts receivable should be close to The higher the accounts receivable turnover ratio Using the above balances the days sales in receivables is: The Days' sales in receivables indicates Choose... Choose... Choose