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You are watching: What type of receivables result from sales transactions?

Solution 1: notes or account receivables that results from sales transactions are often called "Trade receivables" for this reason option c is correct. Solution 2: Under t…View the full answer

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Transcribed picture text: 1. Note or accounts receivables that result from sales transactions are frequently called: a) sales receivables b) nontrade receivables c) profession receivables. D) goods receivables 2. Under the allowance method, creating off one uncollectible account: a) affects only balance paper accounts. B) influence both balance sheet and also income explain accounts. C) affects only income statement accounts. D) is not acceptable practice. 3. When an account i do not care uncollectible and must be composed off a) allowance for unconvinced accounts will be credited. B) pin money for doubtful accounts will certainly be debited. C) bad debt price will it is in debited. D) accounts receivable will certainly be debied 4. Once a company uses the allowance technique to account for uncollectible accounts the arsenal of one account that had actually been formerly written off: a) will increase profit. B) will decrease benefit c) will certainly not affect profit. D) will increase sales. 5. One aging the a company's account receivable indicates that $ 4.000 is estimated to it is in uncollectible. If pin money for unconvinced Accounts has a $1,100 credit balance the adjusting entry forced to record estimated uncollectible account will encompass a a) debit to negative Debt cost for $4,000. B) debit to pin money for cynical Accounts for $2,900. C) debit to bad Debt expense for $2.900 d) credit to accounts Receivable because that $4,000 6. Rise in the poor debt expense would not be led to by: a) boost in cash sales b) bad economic climate c) rise in credit transaction sales d) a to decrease in the quality of customers 7. One aging of a company's accounts receivable shows $ 10.000 is estimated to it is in uncolectible. The agency has a $ 2.000 debit balance in its allowance for doublu accounts. The adjustment come record approximated credt losses because that the period will call for ain: a) $ 8.000 debit to negative Debt Expense. B) $ 8.000 credit transaction to the pin money for unconvinced Accounts c) $ 12,000 debit to negative Debt Expense. D) $ 12,000 credit to account Receivable 8. Allowance for unconvinced Accounts ~ above the balance sheet: a) is offset against total existing assets b) rises the moving amount of account receivable c) appears under the heading present Liabilities." d) to reduce gross account receivable