Which of the following receivables would not be classified as an "other receivable”?

Multiple Choice Question 67

An alternative name for Bad Debt Expense is

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Collection Expense.

Deadbeat Expense.

Uncollectible Accounts Expense.

Credit Loss Expense.

Multiple Choice Question 86

The direct write-off method of accounting for bad debts

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is the preferred method under generally accepted accounting principles.

uses an allowance account.

uses a contra-asset account.

does not require estimates of bad debt losses.

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Multiple Choice Question 41

Which of the following receivables would not be classified as an "other receivable"?

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Advance to an employee

Refundable income tax

Notes receivable

Interest receivable

Multiple Choice Question 65

A debit balance in the Allowance for Doubtful Accounts

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indicates that actual bad debt write-offs have been less than what was estimated.

is the normal balance for that account.

indicates that actual bad debt write-offs have exceeded previous provisions for bad debts.

cannot occur if the percentage of sales method of estimating bad debts is used.

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Multiple Choice Question 126

A promissory note

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is not a formal credit instrument.

may be used to settle an accounts receivable.

has the party to whom the money is due as the maker.

cannot be factored to another party.

Multiple Choice Question 165

On February 1, Ville Company received a $6,000, 5%, four-month note receivable. The cash to be received by Ville Company when the note becomes due is

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$6,000.

$6,100.

$6,300.

$100.

Multiple Choice Question 91

Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $15,000. If the balance of the Allowance for Doubtful Accounts is $2,000 credit before adjustment, what is the amount of bad debt expense for that period?

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$2,000

$13,000

$15,000

$17,00

Multiple Choice Question 118

T'Pol Furniture factors $900,000 of receivables to Trip Factors, Inc. Trip Factors assesses a 2% service charge on the amount of receivables sold. T'Pol Furniture factors its receivables regularly with Trip Factors. What journal entry does T'Pol make when factoring these receivables?

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Cash

900,000

Accounts Receivable

882,000

Gain on Sale of Receivables

18,000

Cash

882,000

Service Charge Expense

18,000

Accounts Receivable

900,000

Cash

882,000

Loss on Sale of Receivables

18,000

Accounts Receivable

900,000

Cash

882,000

Accounts Receivable

882,000

Multiple Choice Question 92

Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $14,000. If the balance of the Allowance for Doubtful Accounts is $2,000 debit before adjustment, what is the balance after adjustment?

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$16,000

$2,000

$14,000

$12,00

Multiple Choice Question 98

In 2014, Chandler Company had net credit sales of $1,125,000. On January 1, 2014, Allowance for Doubtful Accounts had a credit balance of $27,000. During 2014, $42,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivables basis). If the accounts receivable balance at December 31 was $380,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2014?

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$97,500

$53,000

$23,000

$38,00

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