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    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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