Question 37

Q: A write-off of an account receivable:

	A.	reduces net income
	B.	reduces net accounts receivable
	C.	reduces the allowance for doubtful accounts
	D.	all of the above.

1 points

Question 38

Q: A company offers credit terms of 3/10, n/30. A customer who purchased $3,000 of merchandise on account on May 12 pays their invoice in full on May 22. The amount of cash payment necessary to satisfy the accounts receivable in full on that date is:

		$3,000
		$2,910
		$2,700
		2,940

1 points

Question 39

Q: Journal entries are NOT required on which of the following dates pertaining to dividends?

	A.	Declaration date
	B.	Payment date
	C.	Date of record
	D.	None of the above.