1. Under the allowance method, we can estimate the uncollectable accounts receivable using either the 1) Percentage-of-Sales Approach and/or 2) Percentage-of-Receivables Approach: /body>

   True

   False

2. Accounts Receivables includes customer or noncustomer transactions with interest component

   True

   False

3. Trade Discounts can be accounted under the gross and net method:

   True

   False

4. Under the gross method of accounting for the cash discounts, if the customer pays within the discount period, a sales discount is recognized (contra revenue account):

   True

   False

5. Under the net method of accounting for the cash discounts, if the customer pays within the discount period, a sales discount is recognized (contra revenue account)

   True

   False