1)Dividing net credit sales, or net sales, by average netaccounts receivable yields: Select one: a.

1)Dividing net credit sales, or net sales, by average netaccounts receivable yields: Select one: a. Asset turnover. b. Inventory turns. c. Not ameaningful calculation since sales and receivables are both debits.d. Accounts receivable turnover. e. Receivables ageing. 2)Which of the following statements is false? Select one: a. The Allowance for Uncollectible Accounts reduces accountsreceivable to their net realizable value. b. None of these. c. Any existing balance in the Allowance for UncollectibleAccounts is ignored in calculating the uncollectible accountsexpense under the percentage-of-sales method except that theallowance account must have a credit balance after adjustment. d. A write-off of an account reduces the net amount shown foraccounts receivable on the balance sheet. e. The percentage-of-receivables method may use either anoverall rate or a different rate for each age category. 3) Hunt Company estimates uncollectible accounts using thepercentage-of-receivables method and expects that 5 percent ofoutstanding receivables will be uncollectible for 2014. The balancein Accounts Receivable is $200,000, and the allowance account has a$3,000 credit balance before adjustment at year-end. Theuncollectible accounts expense for 2014 will be: Select one: a. $7,000. b. $9,850. c. None of these. d. $10,000. e. $13,000. . . .

 

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