Question 2 1 pts 2) Under the direct charge-off method of dealing with uncollectible accounts,...
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Accounting
Question 2 1 pts 2) Under the direct charge-off method of dealing with uncollectible accounts, O revenues and expenses are properly matched. o no Allowance for Uncollectible Accounts exists. Uncollectible Accounts Expense is recorded in the period of the sale. O Accounts Receivable is shown on the balance sheet at net realizable value. Question 3 3 pts Assume that on December 1, a $6,000, 90-day, 10 percent note receivable was received by ABC corporation from a customer as an extension of his past-due account. The entry that would be made to record the note would include Cash 6,600 debit O cash 6,600 credit allowance for doubtful accounts 10,000 O bad debt expense 6,600
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