What information should you have on your customers paying on account?

A. The method of payment

B. Their Balance Sheet

C. What their credit is

D. All of the Above

What information should you keep on file about your Vendor?

A. Payment Preference

B. Their Balance Sheet

C. A list of their vendors

D. All of the Above

Which of the following accounts is created to ensure equilibrium in the Balance Sheet after a customer files for bankruptcy before paying their debt?

A Bad Debt Expense

B. Uncollectible Accounts Payable

C. Bankruptcy Expense

D. Uncollectible Accounts Receivable

Which of the following tools is used to show a balance between Credits and Debits in the Journal Entries?

A. Date of Transaction

B. T-Accounts

C. Balance Sheet

D. None of the Above