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					Accounting Chapter 17 Test Review
Transactions   True/False   True/False   True/False


  100             100         100          100

  200             200         200          200

  300             300         300          300

  400             400         400          400

  500             500         500          500
           Jeopardy Board
Choice 1          1,1/2,1/3,1/4,1/5,1
Choice 2          1,2/2,2/3,2/4,2/5,2
Choice 3          1,3/2,3/3,3/4,3/5,3
Choice 4          1,4/2,4/3,4/4,4/5,4
Allowance for Uncollectible Accounts Debit, Accounts
      Receivable and customer account Credit




        Wrote off customer’s
         past-due account
          as uncollectible.




                                         Row 1, Col 1
                True




  When a previously written-off
  account is collected, Accounts
    Receivable is debited and
credited for the amount collected.




                                 1,2
             True




Allowance for Uncollectible
Accounts is debited to write
  off a customer account.




                               1,3
               True




     Canceling the balance
of a customer account because
 the customer does not pay is
 called writing off an account.



                                  1,4
   Accounts Receivable/customer account Debit,
Allowances for Uncollectible Accounts Credit; Cash
      Debit and Accounts Receivable Credit


    Received cash in full
payment for customer account
     previously written
     off as uncollectible.



                                                     2,1
                True


     Using the percentage of
total sales on account to estimate
 uncollectible accounts expense
 assumes that a portion of every
    sale on account dollar will
       become uncollectible.

                                     2,2
               True



  The book value of accounts
receivable is an estimate of the
amount of accounts receivable
 the business expects to collect
   during the next fiscal year.


                                   2,3
              True




  Accounts receivable that
   cannot be collected are
called uncollectible accounts.



                                 2,4
           General Journal




    Which journal is wrote
   off customer’s past-due
account as uncollectible put in?



                                   3,1
              False



 When the allowance account
has a previous credit balance,
   this previous balance is
 subtracted from the amount
    of the adjustment for
uncollectible accounts expense.


                                  3,2
            False




The account Allowance for
 Uncollectible accounts is
   increased by a debit.




                             3,3
              True


    Crediting the estimated
value of uncollectible accounts
   to a contra account is the
allowance method of recording
          losses from
    uncollectible accounts.

                                  3,4
   General Journal and Cash Receipts Journal




  Which journal is received
  cash in full payment for a
customer’s account previously
 written off as uncollectible?



                                               4,1
              True




The loss from an uncollectible
 amount is a regular expense
      of doing business.




                                 4,2
         False




  The loss from an
uncollectible account
    is a liability.



                        4,3
               False




    The balance of accounts
receivable less the allowance for
    uncollectible accounts is
 uncollectible accounts expense.



                                4,4
Allowances for Uncollectible Accounts Debit, Accounts
     Receivable and Customer’s account Credit




         Wrote off customer’s
         past-due account as
            uncollectible.




                                                        5,1
              False


      Information used to
   journalize an uncollectible
    expense adjusting entry
is obtained from a work sheet’s
     Balance Sheet columns.


                                  5,2
              False



  The entry to journalize the
uncollectible accounts expense
   adjusting entry is debit
Uncollectible Accounts Expense
       and credit Cash.


                                 5,3
              False




   Writing off an account
   decreases the balance of
Uncollectible Accounts Expense.



                                  5,4

				
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