Chapter 7 Flashcards by Elizabeth Torres | Brainscape

Q

Subsidiary Ledger

A

separate acct receivable for each customer

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Q

2 other names of bad debts

A

uncollectible accounts, Doubtful accounts

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Q

Why can’t direct write off be used?

A

Violates the matching principle

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Q

3 methods of estimating bad debts

A

% of sales, Accts Recieve, aging Accts recieve

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Q

The 2 metohds that calculate the adjusted balance

A

Accts recieve and aging Acct recieve

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