Question

QUESTION 1 The method that uses a certain percentage of each year's net sales to estimate the uncollectible account is called the: aging of accounts receivable method. percentage of net sales method. sales discounts method. sales allowance method. 2 points QUESTION 2 The sales for a period total $70,000, with a sales discount of $3,000, and the sales returns and allowances total $7,000. What is the net sales amount? $70,000 $60,000 $67,000 $62,000 2 points QUESTION 3 If the net sales total $9,000 and the estimated percentage of uncollectible accounts is 2%, what will be the amount of uncollectible accounts? $1,800 $900 $180 $90 2 points QUESTION 4 After a customer account is reinstated for collecting a written-off account, the account to be debited is: Accounts Receivable Cash in Bank Accounts Receivable (Subsidiary or Customer) Uncollectible Accounts Expense

Answer 1

Answer:

QUESTION 1 :    sales allowance method

QUESTION 2:   $60,000

QUESTION 3:   $180

QUESTION 4:  Accounts Receivable

Explanation: