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Question 17 2.5 pts Aging Accounts Receivable measures: months a bill has been due but not...

Question 17 2.5 pts
Aging Accounts Receivable measures:
months a bill has been due but not paid.
sales for the year.
All of these answers are correct.
days a bill has been due but not paid.
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Question 18 2.5 pts
Ohio Company uses the Allowance for Doubtful Accounts Method. When Ohio writes off an uncollectible account, there is:
an increase in Accounts Receivable.
None of these answers is correct.
an increase in the Allowance Account.
a decrease in Accounts Receivable.
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Question 19 2.5 pts
After having written off a customer under the direct write-off method, the account will be reopened when the customer:
sends the full amount to pay off the account.
sends any amount to pay on their account.
None of the above
pays the collection bureau.
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Question 20 2.5 pts
The two methods of accounting for uncollectible receivables are the direct write-off method and the:
cash method.
interest method.
allowance method.
equity method.

Homework Answers

Answer #1

Question 17 2.5 pts

Aging Accounts Receivable measures:

So answer is d) days a bill has been due but not paid.

Question 18 2.5 pts

Ohio Company uses the Allowance for Doubtful Accounts Method. When Ohio writes off an uncollectible account, there is:

So answer is d) a decrease in Accounts Receivable.

Question 19 2.5 pts

After having written off a customer under the direct write-off method, the account will be reopened when the customer:

So answer is b) sends any amount to pay on their account.

Question 20 2.5 pts

The two methods of accounting for uncollectible receivables are the direct write-off method and the:

So answer is c) Allowance method

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