Fill in the Blanks: Chapter Seven
1. ____________ Trade receivables arise from the sale of goods and services to customers on account.
2. Under the ____________direct write-off method, uncollectible accounts are recognized when the actual loss is confirmed.
3. The ____________net realizable value is the amount of cash expected to be collected from accounts receivable balances.
4. The allowance method places emphasis on the ____________matching principle.
5. Individual accounts receivable are categorized according to the length of time outstanding under a process known as ____________aging of accounts receivable .
6. The ____________maker promises to pay a stipulated amount of a note to the payee.