QUESTION 1 The receivables turnover ratio is calculated as: Average net receivables + Net sales. True False QUESTION 2 The disadvantages of extending credit include, Increased wage costs, Bad debt costs, and Delayed receipt of cash. True False QUESTION 3 Collection of a previously written off account is called a windfall and it is accounted for by put the receivable back on the books wi Accounts Receivable and posting a credit to Retained Earnings. True False QUESTION 4 Click Save and Submit to save and submit. Click Save All Answers to save all answers