Retail centers that feature upscale retail operations as well as fine dining and entertainment options and are located within affluent neighborhoods are referred to as ________ shopping centers.
Fill in the blank(s) with the appropriate word(s).
lifestyle
More recently, lifestyle shopping centers have gained in popularity. These retail centers usually feature upscale retail operations as well as fine dining and entertainment options and are often located within affluent neighborhoods.
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When a business factors its accounts receivables, the business ________.
A) uses the receivables as security for a loan B) no longer has to deal with the collection of the receivables from the customers C) receives the total amount of the receivables from the factor D) receives cash, less an applicable fee, after the factor collects from the customers
Persuasion is less useful in teamwork and collaboration
Indicate whether the statement is true or false.
When a note receivable is dishonored, it reverts to an account receivable.
Answer the following statement true (T) or false (F)
Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is:
A.
| Allowance for Doubtful Accounts | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 |
B.
| Accounts Receivable-A. Hopkins | 2,000 | |
| Bad debts expense | 2,000 | |
| Cash | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 |
C.
| Accounts Receivable-A. Hopkins | 2,000 | |
| Allowance for Doubtful Accounts | 2,000 |
D.
| Allowance for Doubtful Accounts | 2,000 | |
| Bad debts expense | 2,000 |
E.
| Cash | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 |