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Page 1: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

Accounts Receivable and Uncollectible Accounts

FLASHCARDS

Page 2: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

Allowance method

A method of recording uncollectible accounts that estimates losses from uncollectible accounts and charges

them to expense in the period when the sales are recorded

Allowance method

Page 3: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

Reinstate

To put back or restore an accounts receivable amount that was previously written off

Reinstate

Page 4: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

Valuation account

An account, such as Allowance for Doubtful Accounts, whose balance is revalued or reappraised in light of

reasonable expectations

Valuation account

Page 5: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

Direct charge-off method

A method of recording uncollectible account losses as they occur

Direct charge-off method

Page 6: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

Aging the accounts receivable

Classifying accounts receivable balances according to how long they have been outstanding

Aging the accounts receivable

Page 7: Accounts Receivable and Uncollectible Accounts FLASHCARDS.

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