Sort each event by its effect on total assets. Every miss tells you why.
1.Record bad debts expense, allowance method
2.Write off an account, allowance method
3.Write off an account, direct write-off method
4.Reinstate and collect a written-off account, allowance method
5.Collect an ordinary receivable
6.Accept a note for an account receivable
7.Accrue interest on a note receivable
8.Collect a note at maturity with interest not accrued before
$1,000 credit card sale; card company charges 3%, cash received today.