1. Two methods of accounting for uncollectible accounts a

1. Two methods of accounting for uncollectible accounts are the (Points : 2) allowance method and the accrual method. allowance method and the net realizable method. direct write-off method and the accrual method. direct write-off method and the allowance method. Wholesaler offers a cash discount to a retailer. Retailer offers a cash discount to a customer. All of these are standard practices. that the credit policy is too lenient. of a sound credit policy. of poor judgments on the part of the credit manager. depreciating valuing and collecting. recognizing valuing and disposing. accrual bad debts and disposing. non-trade receivables. trade receivables. merchandise receivables. cash-good value. gross cash value. cash-equivalent value. The accounts affected by the journal entry made by Annie’s Sport Shop to record the finance charge are (Points : 2) Cash Cash Finance Receivable Accounts Receivable Interest Payable Accounts Receivable Interest Revenue $2000 $3000 $3200 percentage of receivables basis. percentage of sales basis. percentage of receivables and percentage of sales basis. note receivable. accounts receivable. income tax receivable.

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