Match the Term and the Explanation

Multiple Choice

Match the term and the explanation.Not all explanations will be used.

-Summary of Significant Accounting Policies

A) The time at which a loan must be repaid.
B) A financial statement that shows the calculation of bad debt expense for a company.
C) Total money owed the company for sales made on credit.
D) Net credit sales revenue divided by the net income.
E) An agreement by a borrower to repay the lending company with interest during a specified time period.
F) Time at which a borrower must make annual interest payments.
G) Contra-asset account.
H) The days of the year divided by the receivables turnover ratio.
I) The portion of accounts receivable that the company expects to collect.
J) An account that is debited for the amount of credit sales estimated as uncollectible.
K) Net credit sales revenue divided by the average net accounts receivable.
L) Accounts receivable after cost of goods sold and taxes.
M) The last date a good can be sold for the full price.
N) The days of the year divided by the net sales revenue.
O) Part of the Notes to Financial Statements that should include information on how a company accounts for doubtful accounts receivable.