Question description
1. The method that uses a certain percentage of each year’s net sales to estimate the uncollectible account is called the: aging of accounts receivable method.percentage of net sales method. sales discounts method. sales allowance method.2. The sales for a period total $70,000 with a sales discount of $3,000 and the sales returns and allowances total $7,000. What is the net sales amount?$70,000 $60,00 $67,000 $62,0003. If the net sales total $9,000 and the estimated percentage of uncollectible accounts is 2% what will be the amount of uncollectible accounts?$1,800 $900 $180 $904. After a customer account is reinstated for collecting a written-off account, the account to be debited is:cash in bank accounts receivable account customer account accounts receivable
