Question: Terms and Methods Terms 1. Direct write off (not GAAP) vs allowance method (17.02 B) 2. Matching principle related to receivables 3. Net realizable value,

Terms and Methods

Terms 1. Direct write off (not GAAP) vs allowance method (17.02 B) 2. Matching principle related to receivables 3. Net realizable value, balance sheet presentation 4. Note receivable vs. Account receivable 5. Accounts receivable turnover ratio (B7.08) Methods 1. Calculating interest earned on note receivable (origination, accrual and settlement) (P'R'R'T) 3 journal entries: origination, accrual and settlement (B7.11 B) 2. Income statement approach (Sales method) (B7.06 B) 3. Balance sheet approach to adjusting Allowance (\% of accounts receivable) (B-7.04 E.) 4. Account receivable aging (B7.05 B) )

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