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Ch 9:1


Acid-Test Ratio Ratio of the sum of cash plus short-term investments plus net current receivables, to current liabilities.
Aging-Of-Accounts Method A way to estimate bad debts by analyzing individual accounts receivable according to the length of time they have been receivable from the customer.
Allowance for Doubtful Accounts A contra account, related to accounts receivable, that holds the estimated amount of collection losses.
Allowance for Uncollectible Accounts Also called Allowance for Doubtful Accounts.
Allowance Method A method of recording collection losses on the basis of estimates, instead of waiting to see which customers the company will not collect from.
Bad-Debt Expense A company unable to collect from some customers, and that creates an expense.
Balance-Sheet Approach An entity's assets, liabilities, and owner's equity as of a specific date.
Collection Period Also called Days' Sales in Receivables.
Creditor The party to a credit transaction who sells goods or a service and obtains a receivable.
Days' Sales In Receivable Ratio of average net accounts receivable to one day's sales.
Debtor The party to a credit transaction who makes a purchase and has a payable.
Default On A Note Also called default on a note.
Direct Write-Off Method A method of accounting for uncollectible receivables, in which the company waits until the credit department decides that a customer's account receivable is uncollectible.
Discounting A Note Receivable Selling a note receivable before its maturity date.
Dishonor Of A Note Failure of a note's maker to pay a note receivable at maturity.
Doubtful-Account Expense Also called Bad-Debt Expense.
Due Date The date when final payment of the note is due.
Created by: mattschultice