Match each key term with its definition. The allowance method based on the idea that a given percent of a company's credit sales for the period is uncollectible. Choose... Choose... Choose... Choose Contra asset account with a balance approximating uncollectible accounts receivable Amount that the signer of a note agrees to pay back when it matures, not including interest Method that records the loss from an uncollectible account receivable at the time it is determined to be uncollectible; no attempt is made to estimate bad debts Charge for using money (or other assets) loaned from one entity to another, A method of accounting for bad debts that matches the estimated loss from uncollectible accounts receivable against the sales they helped to produce Accounts of customers who do not pay what they have promised to pay, an expense of selling on credit; also called uncollectible accounts. Amounts due from customers for credit sales. Choose.. Choose... Choose.. Choose