Acel Co. uses the allowance method to account for bad debts. Early In 2010, Ace I determined that It could not collect $400 from CTR

Acel Co. uses the allowance method to account for bad debts. Early In 2010, Ace I determined that It
could not collect $400 from CTR, Inc. and wrote the balance off. On October 21, Acel received a check for
$400 from CTR. The entries to record the receipt of cash on October 21 would include a debit to:
Select two answers .

Accounts Receivable.

Accounts receivable is debited to reinstate

Allowance for Doubtful Accounts.

Bad Debt Expense.

cash. 

Zlno Company determines that a customer balance of $200,from Hollis Co. is uncollectible. Zino uses the

allowance method to account for bad debts. The entry to write off the uncollectible balance will include a:

debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.

debit to Bad Debts Expense and a credit to Allowance for Doubtful Accounts.

debit to Accounts Receivable and a credit to Allowance for Doubtful Accounts.

debit to Allowance for Doubtful Accounts and a credit to Bad Debts Expense. 

The expected proceeds from accounts receivable, determined by taking accounts receivable less the

allowance for doubtful accounts, is called: 

contra receivables

accounts receivable turnover

total receivables 

realizable value

The principal and interest of a note are due on its maturity date. The maker of the note usually

(makes/honors/dishonors)honors the note and pays it in full. 

Companies sometimes convert receivables to cash before they are due. When a company sells its

receivables, it is called factoring (pledging/factoring). When a company uses receivables as collateral for

a bank loan, it is called pledging (pledging/factoring).