Matching Select the term that best fits each of the following definitions and descriptions.a.Notes receivableb.Nontrade receivablesc.Net realizable valued.Direct write-off methode.Interest-bearing notef.Maturity dateg.Promissory noteh.Factoring receivablesi.Trade discountj.Present valuek.Allowance methodl.Sales discountm.Negotiable noten.Non-interest-bearing noteo.Assignment of receivablesp.Valuation date 11. A method of recognizing the actual losses from uncollectible accounts as expenses during the period in which the receivables are determined to be uncollectible. 12. The amount of cash expected to be received from the conversion of assets in the normal course of business. 13. The sale of receivables without recourse for cash to a third party, usually a bank or other financial institution. 14. Receivables that are evidenced by a formal written promise to pay a certain sum of money at a specified date. 15. The date the principal amount of a note is due to be paid. 16. A reduction in the "list" sales price of an item to the "net" sales price actually charged to the customer; generally the amount of reduction depends on the volume of business or size of the order from the customer. 17. The sum of future receipts or payments discounted to the present date at an appropriate rate of interest. 18. A reduction in the selling price that is allowed if payment is received within a specified period. 19. A method of recognizing the estimated losses from uncollectible accounts as expenses during the period in which the sales occur. 20. A note that is legally transferable by endorsement and delivery. 21. Any receivable arising from transactions that are not directly associated with the normal operating activities of a business. 22. A note written in the form where the face amount includes the interest charges. 23. The borrowing of money with receivables pledged as security on the loan. 24. A note written in the form where the maker promises to pay the face amount plus interest at a specified rate. 25. An unconditional written promise to pay a certain sum of money at a specified time.

Question

Matching    Select the term that best fits each of the following definitions and descriptions.a.Notes receivableb.Nontrade receivablesc.Net realizable valued.Direct write-off methode.Interest-bearing notef.Maturity dateg.Promissory noteh.Factoring receivablesi.Trade discountj.Present valuek.Allowance methodl.Sales discountm.Negotiable noten.Non-interest-bearing noteo.Assignment of receivablesp.Valuation date   11. A method of recognizing the actual losses from uncollectible accounts as expenses during the period in which the receivables are determined to be uncollectible.   12. The amount of cash expected to be received from the conversion of assets in the normal course of business.   13. The sale of receivables without recourse for cash to a third party, usually a bank or other financial institution.   14. Receivables that are evidenced by a formal written promise to pay a certain sum of money at a specified date.   15. The date the principal amount of a note is due to be paid.   16. A reduction in the &#34;list&#34; sales price of an item to the &#34;net&#34; sales price actually charged to the customer; generally the amount of reduction depends on the volume of business or size of the order from the customer.   17. The sum of future receipts or payments discounted to the present date at an appropriate rate of interest.   18. A reduction in the selling price that is allowed if payment is received within a specified period.   19. A method of recognizing the estimated losses from uncollectible accounts as expenses during the period in which the sales occur.   20. A note that is legally transferable by endorsement and delivery.   21. Any receivable arising from transactions that are not directly associated with the normal operating activities of a business.   22. A note written in the form where the face amount includes the interest charges.   23. The borrowing of money with receivables pledged as security on the loan.   24. A note written in the form where the maker promises to pay the face amount plus interest at a specified rate.   25. An unconditional written promise to pay a certain sum of money at a specified time.

Accepted Answer

There are varied terms used in accounting in day-to-day operations. They have a standard meaning…