Uncollectible Accounts, the Allowance Method & Bad Debt

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

How do companies generally handle uncollectible accounts?

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1. Which account is generally debited when recording an uncollectible account?

2. Which account is generally credited when recording uncollectible accounts?

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About This Quiz & Worksheet

This quiz and worksheet combo will help you understand uncollectable accounts, and their place within the world of accounting. You will be quizzed on how to manage uncollectable accounts.

Quiz & Worksheet Goals

This quiz will test you on:

  • Uncollectable accounts
  • The name of the account that is used to record money that is owed to a company
  • When the Matching Principle requires expenses to be recorded

Skills Practiced

This quiz and worksheet allows students to test the following skills:

  • Reading comprehension - ensure that you have retained the most important information regarding uncollectable accounts and how they are accounted for
  • Information recall - remember the account that is usually debited when it comes to uncollectable accounts
  • Knowledge application - assess your understanding of the Matching Principle by answering questions it

Additional Learning

To review concepts related to uncollectable accounts, and other related topics, read through the brief lesson titled Uncollectable Accounts, the Allowance Method & Bad Debt. This lesson will help you:

  • Identify key terms, such as uncollectable accounts and accounts receivable
  • Understand how bad debt expense is managed
  • Recall when the Matching Principle should be applied
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