The allowance method of accounting for uncollectible accounts is required if

Select one:

a. the company is a retailer.

b. bad debts are significant in amount.

c. the company charges interest on accounts receivable.

d. the company makes any credit sales. ______________________________________________________________

A bank statement

Select one:

a. is a credit reference letter written by the depositor's bank.

b. lets a depositor know the financial position of the bank as of a certain date.

c. is a bill from the bank for services rendered.

d. shows the activity which increased or decreased the depositor's account balance.