TRUE/FALSE Instructions: Indicate whether each of the following statements is true or fa by placing a check mark in the appropriate column. lse True False 1. The method of accounting which provides in advance for receivables deemed uncollectible is called the allowance 2. The process of analyzing the receivable accounts in order to estimate the uncollectibles is sometimes called aging the receivables.. receivables provides for uncollectible accounts in the year Estimation of uncollectible accounts based on the analysis 3. The direct write-off method of accounting for uncollectible 4. of receivables emphasizes the current net realizable value 5. The allowance method of accounting for uncollectible receivables emphasizes the matching of bad debt expense with the related sales. 6. The term notes includes all money claims against people, 7. Accounts and notes receivable originating from sales 8. Companies with a large amount of receivables normally transactions are sometimes called trade receivables. use the allowance method of accounting for uncollectible accounts 9. When a note is received from a customer from a previous sale on account, it is recorded by debiting Notes Receivable and crediting Sales.. 10, Jacob Co. issues a 90-day, 12% note on May 13, the due date of the note is August 11