Susan __________ hear the speaker because the crowd was cheering so loudly.

Assume that at the end of the day, the cash register tape shows a balance of $635. However, the cash drawer has a balance of $650. This difference should be recorded as an increase to Miscellaneous Expense.  

A bank reconciliation is generally prepared by the bank and sent to the depositor along with canceled checks.  

The instructor __________ to class late yesterday.

Using the sales method for calculating bad debts expense, the calculation derived equals the ending balance of the allowance for doubtful accounts. 

You __________ pay taxes every year.

Where’s Jill? She __________ forgotten that we were supposed to meet at 2:00 PM.

She __________ study last night, so she didn’t.

When completing a bank reconciliation, items listed as additions or deductions of cash on the balance per bank side of the reconciliation will require journal entries for these respective increases and decreases.  

The net realizable value for accounts receivable on the balance sheet is calculated by subtracting the contra asset account, allowance for doubtful accounts, from the balance of the accounts receivable for the period.