Question

23&24)

Question 23 2 pts The receivable that is usually evidenced by a formal, written instrument of credit is an) trade receivable note receivable O accounts receivable income tax receivable Question 24 2 pts When does an account become uncollectible? when accounts receivable is converted into notes receivable when a discount is available on notes receivable Othere is no general rule for when an account becomes uncollectible O at the end of the fiscal year

Answer 1

23

The receivable that is usually evidenced by a formal, written instrument of credit is a(n) note receivable.

Notes receivable indicate the written promise to pay a specific amount at a specific future date.

Option B is correct

24

There is no general rule for when an account becomes uncollectible.

An account may be written off as uncollectible when the amount cannot be realized despite several efforts being made to collect receivables.

Option C is correct