On January 1, 2011, Chase Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $60,500 and $1,010 (credit), respectively. During the year Chase reported $140,100 of credit sales. Chase wrote off $1,200 of receivables as uncollectible in 2011. Cash collections of receivables amounted to $149,300. Chase estimates that it will be unable to collect two percent (2%) of credit sales. The amount of uncollectible accounts expense recognized in the 2011 income statement will be:

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.