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Chapter 2
Accounting for Receivables
Assessment Questions
AS-1 (
1
)
Define accounts receivable.
AS-2 (
1
)
Describe the presentation of accounts receivable on the balance sheet.
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❶
Explain the importance of accounts
receivable
❷
Account for bad debt using the allowance
method
❸
Estimate bad debt using income statement
and balance sheet approaches
❹
Utilize reports, including the accounts
receivable subledger, to manage accounts
receivable information
❺
Calculate financial ratios pertaining to
accounts receivable
❻
Apply controls relating to accounts
receivable
❼
Record promissory notes and notes
receivable
❽
Apply ethics relating to accounts receivable
and notes receivable
learning outcomes
