XYZ Company has this information: Beginning Accounts Receivable Credit Sales Revenue $400,000 $1,100,000 $80,000 $200,000 Accounts Receivable Written Off As Uncollectible Ending Accounts Receivable 1) What is the amount for Cash Collections on Accounts Receivable? $480,000 b. $820,000 a. $1,220,000 d. $560,000 C. 2) ABC Company shows "Trade Accounts Receivable" and "Other Receivables." Which statement is true? The Trade Accounts Receivable and Other Receivables are both from day-to-day business b. The Trade Accounts Receivable are probably noncurrent assets. c. The Other Receivables are from something other than ordinary business with customers d. The Other Receivables would not be collectible a. 3) If an account is a contra-revenue, this means: a. The amount is subtracted from accounts receivable b. The amount is subtracted from sales revenue The amount is added to sales revenue c. d. The amount is treated like an expense 4) Suppose Green Company has a stated collection policy of collecting accounts receivable within 40 days. Its average collection period is 50 days. Which statement is true? The company should not change anything a. b. The company should contact slow-paying customers. The company should change its stated collection policy to 50 days d. c. The company should lighten up on its customers