$5.00 some help
1. When writing-off an uncollectible receivable, how does the journal entry differ under the Direct write-off method versus the Allowance method? In your own words, please.
2. How does an Account Receivable differ from a Note Receivable?
3. What does an Accounts Receivable Turnover ratio tell us?
4. Generally, would we expect companies selling directly to customers to have a high turnover rate? What makes that type of transaction different from companies selling to other businesses?
5. Describe for me a few characteristics of a fixed asset.