Which one of the following statements is true? Oa. When a company uses a subsidiary ledger, the balance in the control account, Accounts Receivable shows only the amount the company expects to collect from the accounts recevable, net of any expected uncollectable accounts Ob. An accounts recevable subsidiary ledger represents amounts due to vendors and suppliers. Oc. The balance in the control account Accounts Receivable should be equal to the sum of the balances in the subudiary ledger for accounts receivable Od, Arubadiary ledper takts the place of the control account for some companies On July 1, 2017, Falcon Company received a $20,000 promissory note for services from Jordyn Company. The annual interest rate is 54. Principal and interest are paid in cash at the maturity date of June 30, 2018. The effect on Falcon's financial statements on Buy 1, 2017, ls which of the following? Oa. Assets and tockholders' equity in Ob decrease and stacheldes equity decreases . . Od There is nie netrhangemasses. Which one of the following is not an accurate statement regarding the direct write-off method of accounting for bad debts? Oa. The direct writer of method ismeres the possibility that partial collection of a company's outstanding accountu receivable may occur Ob. Under the direct write-off the expende in tird. Oc. The allowed method for bad debts Violates the matching pemain but the thienet write-off method does not Od. The direct wete off method has some licencies when accounting her had debts. Which one of the following statements is true? Oa. When a company uses a subsidiary ledger, the balance in the control account, Accounts Receivable shows only the amount the company expects to collect from the accounts recevable, net of any expected uncollectable accounts Ob. An accounts recevable subsidiary ledger represents amounts due to vendors and suppliers. Oc. The balance in the control account Accounts Receivable should be equal to the sum of the balances in the subudiary ledger for accounts receivable Od, Arubadiary ledper takts the place of the control account for some companies On July 1, 2017, Falcon Company received a $20,000 promissory note for services from Jordyn Company. The annual interest rate is 54. Principal and interest are paid in cash at the maturity date of June 30, 2018. The effect on Falcon's financial statements on Buy 1, 2017, ls which of the following? Oa. Assets and tockholders' equity in Ob decrease and stacheldes equity decreases . . Od There is nie netrhangemasses. Which one of the following is not an accurate statement regarding the direct write-off method of accounting for bad debts? Oa. The direct writer of method ismeres the possibility that partial collection of a company's outstanding accountu receivable may occur Ob. Under the direct write-off the expende in tird. Oc. The allowed method for bad debts Violates the matching pemain but the thienet write-off method does not Od. The direct wete off method has some licencies when accounting her had debts
