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Match the term with the correct definition. Aging of Accounts Receivable Allowance for Doubtful Accounts Allowance method Bad Debits Direct Write-off method Interest 4 Maturity
Match the term with the correct definition. Aging of Accounts Receivable Allowance for Doubtful Accounts Allowance method Bad Debits Direct Write-off method Interest 4 Maturity date Principal Percent of Sales Method Percent of Receivables Method Credit Card Expense Promissory note Honored Notes Dishonored note. Factoring Pledging Receivables A. The borrower does not pay the loan's principal and interest on the loan's due date. B. Method for writing off bad debt that estimates the amount of uncollectible accounts receivable and sets aside a "fund" to use to write off bad debt when it arises. C. Using account receivable as security for a loan. D. Method for writing off bad debts that records the loss directly against the bad debt expense when an account is declared uncollectible. E. Accounts receivable that are determined to be uncollectible. F. Written promise to pay a specified amount, usually with interest, on demand or on a certain date. G. Method of estimating bad debt that assigns estimated bad debt percents based on how long the receivable is past its due date. H. Method used to estimate bad debt expense based on the percent of sales during an accounting period. 1. The charge for using money until its maturity date. J. Account used to record the store's cost of allowing customers to purchase merchandise using credit cards. K. Contra account used to write off bad debt when using the Allowance method. L. The borrower pays the loan's principal and interest on the due date. M. The amount of the loan. N. The day the amount of a loan plus interest earned becomes due 0. Method used to estimate bad debt expense based on the percent of receivables generated during an accounting period. P. Converting Accounts Receivable to cash by selling Accounts Receivable to a financing company
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