QUESTION 19 A high accounts receivable turnover ratio indicates: 1,the company's sales are increasing 2.a large proportion of the company's sales are on credit. 3.customers are making payments very quickly. 4. the company is taking longer to sell inventory. QUESTION 20 When a company determines that the accounts recelvable for a specific customer is definately uncollectible and decides to "write off' the amount, it records a journal entry where the debit is to "Allowance for Doubtful Accounts" and the credit is to: 1. Sales Returns & Allowances 2. Accounts Receivable o o 3. Uncollectible Accounts Expense o 4, Cost of Goods Sold