Question: 1. What does the age of accounts receivable refer to? How can we use an aging method to estimate uncollectible accounts receivable?
2. Discuss the differences between the allowance method and the direct write-off method for recording uncollectible accounts. Which of the two is acceptable under financial accounting rules?
3. Notes receivable differ from accounts receivable in that notes receivable represent written debt instruments. What is one other common difference between notes receivable and accounts receivable?