Crossword Puzzles for...
Accounts Receivable and Bad Debts Expense
Accounts receivable is a current asset that reports the amount a company's customers owe the company for goods or services provided on credit. Under accrual accounting, a company credits a revenue account and debits Accounts Receivable when billing customers. When an account receivable is collected, the accountant debits Cash and credits Accounts Receivable
Reinforce your accounting and bookkeeping knowledge with these free crossword puzzles with answers. If you have any difficulty answering the questions, learn more about this topic by reading our mini-lectures covering introductory to Accounts Receivable and Bad Debts Expense.
Sample Accounts Receivable and Bad Debts Expense Questions
1) A company might borrow money by using its accounts receivable as ______________ for the loan.
2) To remind customers of the amount it owes, a company will mail ______________ to these customers. This document will show the open or unpaid invoices.
3) When goods are shipped FOB _____________ point, the sale and accounts receivable will occur at the seller's dock.
4) "2/10, net 30" is an example of credit __________.
5) Under the allowance method, the write-off of a bad account will involve two current ________ accounts.
6) Usually the Allowance for Doubtful Accounts will have a __________ balance.
7) The aging of accounts receivable is associated with the percentage of _____________ method for determining the amount of Bad Debts Expense.
8) The calculation of the accounts receivable turnover ratio is net credit sales divided by the ___________ balances of accounts receivable.
9) A company that is in the business of purchasing accounts receivable.
10) The allowance account to accounts receivable is a ________-asset account.