Matching Questions
137.Match each of the following terms with the appropriate definitions.
1. The charge a borrower pays for using money borrowed.
2. A written promise to pay a specified amount of money, usually with interest, either on demand or at a definite future date.
3. A process of classifying accounts receivable by how long it is past its due date for the purpose of estimating the amount of uncollectible accounts.
4. The uncollectible accounts of credit customers who do not pay what they have promised.
5. The party to whom the promissory note is payable.
6. Amounts due from customers for credit sales.
7. A contra asset account with a balance approximating the amount of accounts receivable expected to be uncollectible.
8. The expected proceeds from converting an asset into cash.
9. The accounting principle that requires expenses to be reported in the same period as the sales they helped to produce.
10. The party who signs a note and promises to pay it at maturity.