accounting-The aging-of-accounts method for estimating uncollectible accounts

QUESTION

The aging-of-accounts method for estimating uncollectible accounts receivable ________. (Points : 20) focuses on the amount of time accounts receivable have been outstanding is also called the income-statement approach computes bad debt expense as a percentage of net sales is used in conjunction with the direct write-off method Question 2.2. In a business with good internal controls, the credit department should have no access to ________. (Points : 20) the accounting information system the private data of customers, such as their social security numbers customers cash Question 3.3. The allowance method adheres to the ________. (Points : 20) time-period concept matching principle revenue recognition principle Sarbanes-Oxley Act Question 4.4. The ________ of a promissory note is responsible for repayment of the note. (Points : 20) creditor payee maker principle Question 5.5. Holland Company is the payee of a nine month note for $5,000 with an interest rate of 5.5%. The maturity value of this note is ________ (rounded). (Points : 20) $5,000 $5,206 $5,275 $275

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