Problems: 1. Accounting terminology - Match the following serms with the enpliat

Question

Problems: 1. Accounting terminology - Match the following serms with the enpliations belonw A) Accounts Receivable Turnover Rat B) Allowance for Doubtful Accounts (1)Ameans of accountingfor doubdd accoun wich-tutmapi=any e- receivables are determined to be worthless and is not GAAP (2) An account showing the amount of estimated ncollectibic oeivablies (3) The process of estimating uncollectiblccs b diing groups. 4) Dividing net sales by average roceivables to crte a mio to mu the iqpaiding of receivable. 2. You have received the bank statement for your cor=smondo ledger cash account. Your records show an ending bailance for the monh of Siz wible the ' show an ending balance of $12,340· The burk charged S22 n servicefo smrissn-s. All but three checks written during the month were processed by hak "ihar mib"-tt-he- exceptions were 1) Check #850 for S365 had not yet been processed byte bak 2) Check #851 for S440 had not yet been processed by the All but two of the deposits made during the month were processod ty the bunk without incit exceptions were: 1) A customer check for $250, which had been deposined during thewa meturmed NS 2) A deposit totaling $250 had not yet been processed by the hurik Using the information provided above, prepare a bunk reconcilasion

Explanation / Answer

As per chegg guidelines we answer one question per post. Kindly post remaining questions in next post Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Paticulars A) Accounts receivable turnover rate 4) Dividing net sales by average receivables to create a ratio to measure the liquidity of accounts receivable B) Allowance for doubtful accounts 2) An Account showing the amount of estimated uncollectible receivables C) Direct Write off method 1) A means of accounting for doubtful accounts which does not recognise any expense until specific receivables are determined to be worthless and is not GAAP D) Accounts receivable Aging Method 3) The process of estimating uncollectible accounts by classifying accounts receivable by age groups

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