Chapter 14

4. analyzing AR to when they are due
5. canceling the balance of a customer account because the customer didn’t pay
7. a method used to estimate uncollectible accounts receivable for percent of sales
8. someone signs a note, and thus promises to make payment
9. crediting estimated value of uncollectible accounts to contra account
10. the person or business to whom the amount of note is payable
11. amount of accounts receivable a business collects
13. a promissory note that a business accepts from a person or business
14. accounts receivable that can’t be collected
15. a written and signed promise to pay a sum of money at a specific time

1. recording uncollectible account expenses when the amount is actually known to be uncollectible
2. a method used to estimate uncollectible accounts receivable for percent of accounts receivable
3. difference between accounts receivable and contra account
6. promissory note signed by business and given to a creditor
12. difference between asset account balances and related contra account balances