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denpristay [2]
3 years ago
11

. Accounts receivable that cannot be collected. (p. 412) 2. Crediting the estimated value of uncollectible accounts to a contra

account. (p. 412) 3. The difference between an asset's account balance and its related contra account balance. (p. 412) 4. The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts. (p. 412) 5. The amount of accounts receivable a business expects to collect. (p. 412) 6. A method used to estimate uncollectible accounts receivable that assumes a percent of credit sales will become uncollectible. (p. 413) 7. A method used to estimate uncollectible accounts receivable that uses an analysis of accounts receivable to estimate the amount that will be uncollectible. (p. 413) 8. Analyzing accounts receivable according to when they are due. (p. 414) 9. Canceling the balance of a customer account because the customer does not pay. (p. 418) 10. Recording uncollectible accounts expense only when an amount is actually known to be uncollectible. (p. 419)
Business
1 answer:
Arlecino [84]3 years ago
5 0

Answer:

  1. Uncollectible accounts
  2. Allowance method
  3. Book value
  4. Book value of accounts receivable
  5. Net realizable value
  6. Percent of sales method
  7. Percent of accounts receivable method
  8. Aging of accounts receivables
  9. Writing off an account
  10. Direct write off method
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Complete question:

On January 1. Year 1. White Co. sold a property with a remaining useful life of 20 years to Blue Co. for $900.000. At the same time. White entered into a contract with Blue for the right to use the property (leaseback) for a period of 6 years. with annual rental payments of 580.000 that approximate the market rental payments for similar properties. On January 1. Year 1. the carrying amount of the property was 5680.000. and its fair value was 5770.000. A discount rate for the lease of 10% is used by both White and Blue. The present value factor for an ordinary annuity at 10% for 6 periods is 4.3553. The lease does not transfer the property to White at the end of the lease term and does not include a purchase option.  

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$90,000 amount of lease expense for the right of use of the property is recognised by White in Year 1

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