Question

Match the following 1. No effect 2. Allowance method 3. Bad debt expense 4. Allowance for Uncollectible Accounts 5. Net realizable value 6. Accounts receivable 7. Decrease 8. Increase X - 4 The account used to record sales on account to customers - 2 The procedure required for financial reporting purposes to account for uncollectible accounts - 5 The difference between total accounts receivable and the estimate of future bad debts The effect on total assets when estimating future bad debts The account to credit when estimating future bad debts. The effect on total expenses when estimating future bad debts. - 3 The account to debit when estimating future bad debts The effect on total liabilities when estimating future bad debts Type here to search

Answer 1

Here I am answering to your Incorrect ones. Answer to Question 1: The Account is used to record sales on account to customers is Accounts Receivable. So, Option 6 is Correct Match. Answer to Question 5: The Account to credit when estimating future bad debts is Allowance for Uncollectible Accounts. So, Option 4 is Correct Match. Answer to Question 6: The effect on total expenses when estimating future bad debts is Increase. So, Option 8 is Correct Match. Answer to Question 8: The effect on total liabilities when estimating future bad debts is No effect. So, Option 1 is Correct Match.