Part A " I THINK THEY JUST WANT TO COMPLETE THE STATEMENT."

Complete each statement.

1.___________ ______________ ___________ estimates bad debts expense on the basis of a percentage of net sales.

2. _________ _____________ ____________ is a contra asset account found on the balance sheet that accumulates the amount of estimated uncollectible before they are actually written off.

3. ____ ______ _________ is an expense found on the income statement.

4. When an account is written off, the Allowance for Doubtful account is ________ and Accounts Receivable is _________________.

5. The balance sheet approach estimates the balance required in Allowance for Doubtful Accounts by the ____________ _____________ _______________.

6.______________ ____________ ____________ is classified as Other Revenue when the customer account is reinstated after being written off in the direct method.

7. ________________ classifies uncollected amounts for customer according to days past due.

8. ____________ _________________ ______ is the amount expect to collect.

9. Approaches of estimating of Bad Debts Accounts.

a.

b.