rms: credit transfer, dishonoured cheque, standing order and give examples, the purposes, advantage

Q: How might clustering be used to describe customers who owe money (accounts receivable)

A: Accounts Receivable account shows the list of customers of the business who have amount due to the…

Q: Define Accounts Receivable (Trade Receivables, Receivables)

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

Q: accounts receivable,

A: Account receivable :- When Company Goods sold or tendered service on Credit to customer and Company…

Q: (a)Explain, using practical example the effect of accruals figures on the preparation of a…

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

Q: describe the difeference between an account receivable and an account payable

A: Account Receivable: Account Receivable is the account in which a organization records the amount…

Q: What is the nature of a “discount” on notes payable?

A: A discount on Notes payable is a contra liability account to the Notes payable account. When the…

Q: Define revolving credit agreement

A: Revolving credit agreement: A revolving credit is a lawful guarantee in which a bank agrees to lend…

Q: 3. Should a note receivable from a related party be included in the balance sheet with notes…

A: Balance sheet:   Balance sheet is a summary of assets, liabilities, and equity account that reports…

Q: Which of the following is considered receivables? (select all that applies)  rents   note payables…

A: Receivables are the amounts that are expected to be received by an entity either at present day or…

Q: xplain compounding of interest in relation to interest bearing notes receivable.

A: solution : Explain compounding of interest in relation to interest bearing notes receivable. An…

Q: Discuss, in general, what it means for the brothersto set a credit and collections policy

A: Answer: Credit and collection policy refers to the laws and regulations of the company governing the…

Q: The problems of credit extension and give examples and illustrations

A: The term credit extension refers to the process of making and renewing the loan, letter of credit,…

Q: On a balance sheet what does a line of credit do to the balance sheet does it offset notes payable?

A: A line of credit is an important aspect of accounting in  which the lender and the borrower come…

Q: Define Receivable Management and Credit Policies

A: Receivable Management : managing the outstanding   Credit Policies  : Selling on credit to parties…

Q: What is the primary difference between accounts receivable and notes receivable?

A: Receivable: Receivable refers to an amount to be received in future. General classifications of…

Q: What are receivables credits? Please explain.

A: Receivable refers to the assets of the company created due to sale of goods and service on credit to…

Q: What is the  basic differences between transferable letters of credit and back-to back letters of…

A: These are two types of credit given to businesses.

Q: Short answer Which is more relevant to an investor; Accounts Receivable or Accounts Receivable, Net?…

A: Investors are an important class of stakeholders for every company. The contribute to the…

Q: What is a receivable?  List two types of receivables and their definitions.

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Explain why the percentage-of-receivables method is referred to as the balance sheet method and the…

A: Percentage-of-receivables method:   It is a method of estimating the bad debts (loss on extending…

Q: Explain the following terms:   a. Dishonoured cheques b. Credit transfer c. Standing orders d.…

A: Note: Since you have posted a question with multiple subparts only the first three sub-parts have…

Q: Difference between a debit and a credit.

A: Debit and credit are the two aspects of a transaction and a ledger account. The short form used for…

Q: Explain the term Transfers of Notes Receivable.

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

Q: Define each of the following terms: l. Stretching accounts payable; free trade credit; costly trade…

A: Trade credit is the outstanding due arising from sales or purchases made on credit. Accounts Payable…

Q: What is the difference, definition, examples between account receivables and fees earned?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: It is a receivable financing activity where the Entire Receivable's ownership is sold to the Factee…

A: Generally company makes credit sales and suffer the bad debts on some of the credit sales. To over…

Q: With credit tranching, the subordinated tranches may absorb credit losses as they occur.   Select…

A: Credit Tranching:- It is a system which is generally used by the international monetary funds. under…

Q: Which method, the percentage-of-receivables method or the percentage-of-credit-sales method, is…

A:

Q: What are the basic inputs to recognize an account receivable?

A: Accounts receivable can be defined as the money that is owed to the firm on the sale of goods or…

Q: What is meant by the term notes payable?

A: Notes payable is an account that details the specifics of a borrowed amount in note form. Its a…

Q: Define each of the following terms:i. Credit policy; credit period; credit standards; collection…

A: CREDIT POLICY- ''Guidelines that spell out a way to decide which customers area unit sold-out on…

Q: Discuss the different types of banks deposits in respect to features, interest, cost, withdrawals,…

A: The question is based on the concept of different accounts offered by a bank. Bank accepts deposits…

Q: In financial accounts, how are interfund transactions accounted for

A: An accounting firm's financial statements serve as concise summaries of its activities, conveyed…

Q: A credit balance on accruals account indicates?

A:

Q: How to compute net credit sales on a balance sheet

A: solution : How to compute net credit sales on a balance sheet? Net credit sales is the amount of…

Q: Documents of credit appraisal for individual loan.

A: Credit appraisal basically refers to assessing a particular loan application or proposal in a…

Q: uestion, the unilateral transfer is stated as a debit, but in the calculation for the answer, it is…

A: Balance of Payments is nothing but the record of the economic transactions of the residents of a…

Q: _____ is the example of Liabilities.     Sales     Supplies in Hand     Account Receivables…

A: The Question has covered the concept of Liabilities. Liability means which have an obligation to…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.