Explain additional accounting issues related to accounts and notes receivable.

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: Accounts receivable are appropriately aggregated and clearly described in the financial statements.…

A: Management assertion is the claim made by the management regarding the items in the financial…

Q: What are some common types of receivables other than accounts receivable and notes receivable?

A: Receivables are the amount due to be received in future such as accounts receivable, notes…

Q: in managing accounts receivables, objectives must be achieved?

A: Working capital is calculated as the difference between the value of current assets and current…

Q: Payables and Receivables. As a financial manager, would you prefer that the accounts payable period…

A: The longer the period one can wait to make payment for the inventory, the longer will be the A/P…

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: How to calculate accounts receivable turnover

A: Accounts receivable turnover refers to how a business uses its assets.The receivables turnover ratio…

Q: Describe about the Accounts payable.

A: Accounts payable: A liability which is payable within a short period is termed accounts payable and…

Q: Accounts receivable can be classified as ____

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

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: Describe the responsibilities of an accounts payables specialist.

A: Accounts payable specialists ensures vendors get paid for services and products rendered. They play…

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 the ECL model for accounts receivable. How does it differ from the CECL model?

A: Accounts receivable (AR) is the amount of cash yet to be received by a firm for products or services…

Q: What is accounts receivable management?

A: Accounts receivable management is method for ensuring that whether the customers are paying their…

Q: Illustratrate about the real and nominal accounts along with examples.

A: Real account:Real account involves the amount of asset, liability, or stockholder’s equity at a…

Q: How is Accounts Receivable audited?

A: Accounts receivable is one of the largest assets that a company has; therefore auditors tend to…

Q: Briefly state the rules of debiting and crediting accounts classified on the basis of accounting…

A: Accounting equation: Accounting equation represents the mathematical relationship between assets,…

Q: What are Account for notes payable and interest expense.

A: Notes Payable- It is a type of document or instrument which is issued to creditors for a specific…

Q: Explain the measurement of accounts receivable. (Write a complete thought or answer)

A: Account receivable is shown in the balance sheet as assets. Account receivables is the total…

Q: When does Accounts receivable are created?

A: Current assets: The assets which could be converted into cash within one year like accounts…

Q: Define and explain short-term and long-term accounts receivable.

A: Accounts receivable forms a part of assets of the entity and represent the amount due from the…

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: 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: Briefly explain the methods used for valuing accounts receivables.

A: In the given question, we need to briefly explain the methods used for valuing accounts receivables.…

Q: Explain how to record note payable transaction.

A:

Q: Define accounting? Also elaborate the rules for debit and credit in detail.

A: Accounting - It is the recording of financial events along with other functions of storing, sorting,…

Q: What are accounts for notes payable and interest expense.

A: Payables indicate the amount owed by the organization from outsiders which requires to be paid…

Q: The Sum of all the accounts in the accounts receivable subsidiary ledger should?

A: Accounts Receivable means amount due from customers on account of credit sales.  General ledger…

Q: Explain where the various types of accounts are reported on financial statements.

A: All revenues and expenses accounts are reported on the income statement. Revenues minus expenses are…

Q: The following source document is used to support the transactions related to returns outwards to…

A: The company is in constant interaction with its suppliers and customers and there are many…

Q: 1. Calculate the Accounts Receivable Collection Period & Accounts Payable Payment Period based on…

A: Accounts receivable collection period = 365 x Average Accounts receivable…

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: How to identify the debit and credit amount for the general ledger

A: In order to balance the journal ledger both the debit and credit accounts to be balanced that is…

Q: Define the term accounts receivable?

A:

Q: Explain how accounts receivable are presented in the financial statements.

A: Introduction: Current Assets: Assets which are easily convertible in to cash with in a short period…

Q: What is the basic information to recognize an account receivable?

A: Account receivable is a customer who has purchased the goods or has availed the services of a…

Q: After posting is completed in the accounts receivable ledger and the g ledger, the total of the…

A: Solution: Accounts receivable ledgers are subsidiary ledgers where all credit sales with respective…

Q: Describe the Initial Valuation of Accounts Receivable.

A: Accounts receivable are those amounts that are to be received from customers because of credit…

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

A:

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…