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Match each of the following terms associated with the best description of that term. 1.

Match each of the following terms associated with the best description of that term. 

1. A receivable created from selling merchandise or services on account. 

     Accounts Receivable 

  ____ 

2. Operating expense recorded as a result of receivables becoming uncollectible. 

     Aging Report 

  ____ 

3. All money claims against other entities. 

     Allowance for Doubtful Accounts 

  ____ 

4. The difference between Accounts Receivable and Allowance for Doubtful Accounts. 

     Direct Write-off Method 

  ____ 

5. Measures how frequently during the year accounts receivables are being turned into cash. 

     Bad Debt Expense 

  ____ 

6. Another term for selling receivables. 

     Net Realizable Value 

  ____ 

7. A list of customer accounts sorted by age classes. 

     Factoring 

  ____ 

8. A contra asset that represents the amount of estimated uncollectible receivables at a specific date. 

     Receivables 

  ____ 

9. Records bad debt expense only when a specific customer’s account is deemed worthless. 

     Accounts Receivable Turnover 

  ____ 

Dec 09 2019 View more View Less

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