Where is interest revenue recorded on the income

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35)Where is interest revenue recorded on the income statement?
36)Where is bad debt expense reported on the income statement?
37)Which of the following would be recorded in an income statement under "other revenues and gains"?
38)In the receivables section, a balance sheet includes entries for gross amount of receivables and
39)___ reports both the gross amount of receivables and the allowance for doubtful accounts.
40)Which issue will the IASB and FASB continue to resolve as they worktoward convergence?
41)What approach does IFRS require when testing whether the value ofloans and receivable are impaired?
42)Which of the following is the value at which loans and receivables should be reported under IFRS?
43)Factoring is the process of:
44)Kerrison Company sold $6,000 of merchandise to customers who charged their purchases with a bank credit card. Kerrison's bank charges it a 4% fee. Which one of the following is part of the journal entry to record the credit card sales?
45)Which of the following accounts is debited when a company factors its accounts receivable?
46)Which one of the following isnota method used by companies to accelerate cash receipts?
47)Good Stuff Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use. Which of the following is/are the debit entry(ies) required to record this transaction by Good Stuff Retailers?
48)Net credit sales are $800,000, average net receivables total $150,000, average inventory totals $200,000, and the allowance for doubtful accounts totals $8,000. How much is the average collection period?
49)Prall Corporation sells its goods on terms of 2/10, n/30. It has a receivables turnover ratio of 7.00. What is its average collection period (days)?
50)Eddy Corporation had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in receivables at the beginning of the year was $100,000 and at the end of the year was $150,000. How much is the accounts receivables turnover?

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