Discuss the conversion from cash basis to accrual basis of a decrease in accounts/notes receivables and payables.

What is the impact on the accounting equation when an accounts receivable is collected?A. both sides increaseB. both sides decreaseC. only the Asset side changesD. the total of neither side changes

Explain the relationship between the matching principle andthe need to estimate uncollectible accounts receivable.

Distinguish between the gross and net methods of accounting for cash discounts.

Explain Cash versus Accrual Accounting.

What is the connection between an account's balance sheet equation position and the rules for recognizing increases in that account?

Graves Construction is journalizing two transactions related to uncollectible accounts. The first transaction does not affect cash flows. but the second transaction does affect cash flows. If Graves Construction uses the allowance method to account for uncollectibles, which of the following scenarios may pertain to these transactions? O The first transaction is to record the sale of uncollectible accounts to a factor, and the second transaction is to record the write-off of an uncollectible account. O The first transaction is to record the recovery of a previously written off collectible account, and the second transaction is to record the estimate of uncollectible accounts. The first transaction is to record the write-off of an uncollectible account, and the second transaction is to record the recovery of a previously written off uncollectible account. O The first transaction is to record the write-off of an uncollectible account, and the second transaction is to record the estimate…

b) Explain the difference between Accrual and Cash Accounting. Give anexample to assist in your explanation.

3. How does the information provided in the cash flow statement explain changes in noncash accounts on the balance sheet?

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