Explain how a credit card billing cycle works. What is a grace period, and when is the best time to make payments in your billing cycle?

Q: In a system like QuickBooks Online, when should you create an invoice? a. When a customer…

A: There are two ways recording sales Transaction in Quick books.   1. If customer Do not pay at time…

Q: Explain how to open a new account in the accounts payable ledger

A: The accounts payable ledger ia a subsidiary ledger which contains the details of all vendors to whom…

Q: Show your financial calculator inputs for the payment calculation.

A: Interest refers to the cost of money borrowed from a lender. It can be simple or compound. It is…

Q: As a helpful amenity for customers making electronic payments, certain credit card issuers provide…

A: Virtual credit cards or credit card numbers that can be used only once are increasingly becoming…

Q: Which of the following documents is issued by a customer to provide information about the  nature of…

A: Every transaction that takes place in a business should be recorded appropriately in the books of…

Q: Which of the following is an advantage of using a credit card? O Your spending is limited to the…

A:

Q: Where i can used credit union

A: Whenever a group of people collect deposits and use those deposits to give loans, it is known as…

Q: When can we used credit union?

A: Credit unions are the institutions or co-operatives that give banking services. These unions are…

Q: How the interest rate affects the release of credit card

A: Given,

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: Question  The average collection period is the average amount of time that elapses from a credit…

A: Average Collection Period Average collection period is time allowed by the company to its debtors…

Q: Why should purchases to credit customers and cash receipts from credit customers be quickly…

A: sales can be either cash sales or credit sales. Credit sales will have accounts receivables or…

Q: How did you get Accounts Receivable and Sales?

A: Account receivable is the amount which is to be received from the customers or the customers who…

Q: ow to record credit sale in an entrie?

A: Credit sales mean the amount which is delayed to paid but agreed to pay in future by the consumer.

Q: If you offer gift cards to clients, when should you record your revenue

A: According to the revenue recognition policy, the timing of recording income in the books must be…

Q: Imagine you're trying to select a new credit card. Identify 4 attributes of a credit card you would…

A: A credit card refers to a short-term financial product. It provides the short-term debt funds at a…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: A credit manager who is concerned about a client's viability might take all of the following steps…

A: Credit manager works for the management of credit on client behalf. Normally responsible for credit…

Q: What types of conveniences should you look for in a savings account?

A: Saving Account: A savings account is a basic type of bank account that permits you to deposit cash,…

Q: What are age of receivables and how do you calculate them? Please explain

A: Accounts receivable form a part of assets of the entity and represents the amount due from the…

Q: desrcibe credit card security and why its imporant

A: Credit Card Security: A form of credit card known as a secured credit card is one that requires the…

Q: Give an explanation  - and use an example - of why we may need to convert an Account Receivable to a…

A: Accounts receivable: Accounts receivable is the amount owed by the customers to the company for the…

Q: A friend owns a business that extends credit to its customers.  The friend has asked you to helps…

A: Estimation of uncollectible accounts involves company creating a provision for the percentage of…

Q: Corinne needs to record a customer's payment. Which QuickBooks function would be most useful? Create…

A: Ans. Receive Payment

Q: What is the relationship between an account and item?

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Debit telephone bill, credit ACcounts payable is

A: Correct Answer :- C Business Received telephone bill and it will be paid later.

Q: What are the four things that affect your card-based credit costs?

A: A credit score is a number utilized by moneylenders to survey the likelihood of crediting cash to a…

Q: The fee charged for using a credit card is called O APR O Interest O late fee O credit rating

A: Credit cards are provided by banks if customer is willing to take if he/she has an account with the…

Q: Explain how to calculate day’s sales in receivable.

A: Average collection period: Average collection period indicates the number of days taken by a…

Q: nloaded transactions to a transaction already recorded in QuickBooks Online, what are the possible…

A: There are three Bank Feed modes available in QuickBooks Desktop. Each mode displays and handles…

Q: What are two common methods used when accepting deposits for credit card and debit card…

A: Two common methods for deposits of proceeds from credit card sales are: Gross method Net method

Q: How a credit check in advanced technology system different from a credit check in basic technology…

A: Credit Check:   Credit check is defined as the process of examining the financial behavior of a…

Q: What does the QuickBooks Online Check Register do?

A: Quick Books: Intuit created and markets QuickBooks, an accounting software program. QuickBooks…

Q: How are sales to customers using MasterCard and VISA recorded?

A: Sales: Sales is an activity of selling the merchandise inventory of a business.

Q: Why is it important to pay off a credit card on time

A: A credit card helps to borrow a certain amount for a definite period. Credit cards grants loan to…

Q: ware to analyze the customer and vendor’s Payments and Receipts? Justify the figures using

A: Software used:  QuickBooks Premier Plus Contractor Edition 2019-Desktop   Needed:  A report showing…

Q: Discuss the trade-off in choosing to update the customer credit, should the sales clerk ever be…

A: The credit limit of each customer is decided by the credit manager based on the customer's credit…

Q: How to entre a credit cards

A: How to entre a credit cards

Q: Credit card companies may charge which of the following? (select all that apply) cash advance fee…

A: While Credit Card are an incredible resource, they frequently accompany various expenses that can…

Q: Describe methods of calculating Interests on Your Credit Cards?

A: A card that is generally issued by the banks that helps the person to borrow the money up to the…

Q: WHAT IS THE LOAN FACILITY THAT WILL BE USED TO COVER THE DEPOSIT AND CLOSING COST

A: Credit facility Meaning: Credit facility is type of loan that is made business and corporate…

Q: Explain why there could be 4/5 different APR's listed for just one credit card. What are the…

A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.