The term that indicates the method of valuing an accounts receivable.
What is at "Net Realizable Value"?
100
The classification of a Note Receivable due in three years.
What is a long-term asset?
100
Tabitha Horne
Who is the Dean of Students?
200
Cash that is set aside for specific purposes.
What is "Restricted Cash"?
200
It is used to alter prices for different volumes of purchases.
What is a "Quantity Discount" (or "Trade Discount")?
200
The GAAP approved method of recording Uncollectible Accounts.
What is the "Allowance" method?
200
Net Sales/Average Accounts Receivable (net)
What is the "Accounts Receivable Turnover" ratio?
200
The Zip Code of the Richfield Campus.
What is 55423?
300
It occurs when a company writes a check for more than the amount in its cash account.
What is an "Overdraft"?
300
This is used by the seller to induce prompt payment.
What is a "Cash Discount"?
300
The amount of bad debt expense recorded under the Percentage of Sales approach if cash sales during the year are $50,000 and Credit sales are $80,000 if 2% of annual sales are generally uncollectible?
What is $1,600?
300
Accounts Receivable Turnover ratio/365.
What is the number of "Days Outstanding"?
300
It is a schedule explaining differences between the banl's and the company's records of cash.
What is a "Bank Reconciliation"?
400
Investments with maturity dates less than three months.
What are "Cash Equivalents"?
400
This is the method used to record sales discounts only when they are actually taken.
What is the "Gross Method"?
400
Debit-Allowance for Uncollectible Accounts; Credit-Accounts Receivable
What is entry to write off a bad debt?
400
The system used to track Petty Cash.
What is the "imprest" system?
400
The entry on the Company's books to record an NSF check.
What is a debit to Accounts Receivable and a credit to Cash?
500
Cash used by the company for small purchases.
What is a "Petty Cash Fund?
500
2/10/net/EOM.
What is 2% if paid within 10 days and the remainder due by the end of the month of the sale?
500
An interest rate that is not stated on the face of a Note.
What is an "Implicit" rate?
500
Companies send cash directly to this account at a bank.
What is a "Lockbox"?
500
Cash deposits recorded on the books of a company in one period but not included on the bank statement until the next period.