ACC Accounts receivable quiz

The usual balance in a Contra-Revenue account is a:

In a sale on account, who is undertaking a financial risk of non-payment?

We always sell pens at $8. We sold a pen for $7 because it was damaged. Record the sale at:

The usual balance in a Contra-Asset account is a:

Which of the following are classified as Accounts Receivable?

To the nearest %, paying on the 10th day for a 2/10, net/30, gives an annual return of

The usual balance in a Contra-Expense account is a:

The usual balance in a Contra-Dividend account is a:

To the nearest %, paying on the 15th day for a 1/15, net/30, gives an annual return of (just write the number)

The usual balance in a Contra-Liability account is a:

To the nearest %, paying on the 30th day for a 1/30, net/60, gives an annual return of

The usual balance in a Contra-Owners' Equity account is a: