Learning Objective: P2 The amount of bad debt expense can be estimated by: A) 13

Question

Learning Objective: P2 The amount of bad debt expense can be estimated by: A) 13. B) C) D) E) The percent of sales method. The percent of accounts receivable method. The aging of accounts receivable method. Only b and c. All of the above (a, b and c). Learning Objective: P4 When the maker of a note honors a note this indicates that the note is: A) Signed. B) Paid in full. C) Guaranteed. D) Notarized. E) Cosigned. 14. Learning Objective: P2 15. A method of estimating bad debts expense that involves a detailed examination of outstanding accour past due is the: A) Direct write-off method. B) Aging of accounts receivable method. C) Percentage of sales method D) Aging of investments method. E) Percent of accounts receivable method.

Explanation / Answer

13 The amount of bad debt expense can be estimated by percent of sales method, percent of accounts receivable method and aging of accounts receivable method. Option E is correct 14 Honoring the note indicates that note is paid in full. Option B is correct 15 Aging of accounts receivable method. Option B is correct

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