CH - AC101 practice quiz 5 accounts receivable

CH - AC101 practice quiz 5 accounts receivable - AC101...

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AC101 – practice quiz 5 accounts receivable 1. Which of the following is true? a. Bad debt expense is reported on the balance sheet as a contra account to accounts receivable b. The net accounts receivable number on the balance sheet represents the precise/exact amount the company will collect in cash c. All firms estimate uncollectible accounts in the same manner. d. Generally, the older a receivable, the less likely it is to be collected 2. Net revenues is calculated by subtracting from total (gross) revenues 3. Which of the following best describes credit sales?
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