Describe a note receivable, the computation of its maturity date, and the recording of its existence.

Q: Describe the Subsequent Valuation of Accounts Receivable.

A: Accounts receivable    It refers to the amount for which the services and goods have been delivered…

Q: What is the principal of a note?

A: A note is a promise to pay a specific amount of money to the payee on a future date. It is a…

Q: The total of the amounts on the accounts receivable listing agrees with the general ledger balance…

A: Accounts receivable refers to the amount that is owed by the customer for the goods purchased from…

Q: Define Notes payable.

A: Notes payable is a liability item in the balance sheet of an organization.

Q: The adjusting entry to record an NSF check includes a credit to accounts payable  a debit to vash…

A: Non-sufficient fund: When a checking account holder is overdrawn, that is, there isn't enough cash…

Q: How to prepare the journal entry for the reclassification of long-term notes payable to current…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: All accounts in the subsidiary ledger of accounts receivable should be summed up

A: This question explains the subsidiary ledger of accounts receivable should be summed up.

Q: Record the sale of receivable.

A: Sometimes companies require funds and they too have the assets like the accounts receivables for…

Q: A promissory note is"inchoate" until it has been delivered to the____ a. payer or bearer b.payee…

A: Lets start with basic understanding. As per bill of exchange Act 1982, Promissory note is a…

Q: Explain the initial measurement of long-term notes receivable.

A: solution : Explain the initial measurement of long-term notes receivable. Long term note receivables…

Q: a debtor and a creditor record the same note, respectively, as a: A. note receivable and note…

A: The debtor refers to the person or an entity who owes some amount from another person. The another…

Q: Give an example of accounts receivable.

A: The account receivables are also known with the name of debtors. These are the values due to a firm…

Q: ntries for receipt and dishonor of notes receivable Durnalize the following transactions in the…

A: These are the accounting transactions that are having a monetary impact on the financial statement…

Q: Post the Journal Entries to the General Ledger and Subsidiary Ledgers. Amounts to the Accounts…

A: A general ledger is an account in which the total of all accounts are posted and the total of this…

Q: Describe the accounting treatment of notes receivable

A: If the note receivable is due within a year, then it istreated as a current asset. They are commonly…

Q: Explain Subsequent Valuation of Notes Receivable.

A: Note receivables are balance sheet items that record promissory notes’ value that is owed to the…

Q: Describe accounts receivable and how they occur and are recorded.

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: We report accounts receivable in the balance sheet at the amount expected to be collected. Explain…

A: Account receivable: The amount of money to be received by a company for the sale of goods and…

Q: Define Accounts receivable.

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: Explain additional accounting issues related to accounts and notes receivable.

A: Accounts receivable refers to the amount that is owed to the company as a result of providing goods…

Q: Identify and explain the techniques and methods to manage receivables.

A: Accounts receivable management is critical for any firm, as day-to-day operations rely heavily on…

Q: Which one of the following documents is used to record notes receivable? Register Voucher Promissory…

A: Note means an instrument acknowledging as debt due from one party to another party. It carry defined…

Q: Identify the normal balance (debit [Dr] or credit [Cr]) for each of the following accounts. Note…

A: Note receivable refers to a note such as promissory note issued by a receiver of loan to issuer of…

Q: Explain the subsequent measurement of long-term notes receivable.

A: Long-term notes receivable are those notes which are due for more than one year after the date of…

Q: . How is the present value of a non-interest-bearing note computed?

A:

Q: why is a note receivable moved to accounts receivable prior to being written up and sent to…

A: Notes receivable indicates the promissory notes issued by the client for making due payment on a…

Q: Explain how to record note payable transaction.

A:

Q: Determine due date and interest on notes

A: Interest:- Interest(In accounting terms) is the excess amount that is paid for taking a certain…

Q: What is the formula to compute interest on a note receivable?

A: Note receivable: Note receivable refers to a written promise for the amounts to be received within a…

Q: Identify the normal balance (debit [Dr] or credit [Cr]) for each of the following accounts:…

A:

Q: Define the characteristics of Notes Payable?

A: A notes payable is described as the written promissory notes. By issuing notes payable, the debtor…

Q: Explain accounting issues related to disposition of accounts and notes receivable.

A: Accounts receivable refers to the amount that is owed to the company as a result of providing goods…

Q: Account for notesreceivable and interestrevenue

A: Notes Receivables: This records the promissory note’s value that is a promise in writing that one…

Q: For VAT and Percentage transactions, state when will be the deadline for the remittances

A: VAT is value added tax and it is indirect tax which means tax is paid by consumer of goods or…

Q: What is meant by the discounting of a note receivable? Describe the four-step process used to…

A:

Q: between a balance on a receivable ledger contro account and the total list of accounts receivable…

A: Accounts Receivables: as each customer's a/c balance cannot be shown in financials, the Accounts…

Q: When you collected Accounts Receivables, your entry would include?

A: Accounts Receivable is shown as an asset in the books of accounts and has a debit balance. When the…

Q: What is meant by a promissory note?

A: The amount due to be paid for loan can be promissed by customer by issuing promissory note.

Q: What are note payables? How they are recorded?

A: Solution:- Notes payable meaning as follows under:-

Q: What is the difference between a note payable and an account payable?

A: Current liability: It can be defined as the financial commitments of a business that are due and to…

Q: Define account receivable

A: The formula to compute accounts receivable turnover ratio as follows: Accounts receivable turnover…

Q: Explain accounting issues related to recognition and valuation of notes receivable.

A:

Q: Explain compounding of interest in relation to interest bearing notes receivable

A: The interest-bearing notes receivable is a bond or note other than discounted bonds, on which the…

Q: Give the journal entry for the following transaction. Received a promissory note in payment of an…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…