What is the difference between Accounts Payable and Accounts Receivable? Explain each in generic terms.

Q: What is the impacts on the accounting equation when an accounts receivable is collected

A: Accounting equations are based on a double-entry accounting system which states that each and every…

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: What is the difference between accounts payable andaccounts receivable?

A: Purchases means amount or value of goods that is purchased by the business. Cash for the purchases…

Q: Explain any possible differences between accounting for an account receivable factored with recourse…

A: Definition:   Accounts receivable: Accounts receivable refer to sum of money that is received within…

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 difference between ‘accounts payable (AP)’ and ‘accounts receivable (AR)’?

A: Credit Transaction: Under a credit transaction, the exchange of goods or services takes place where…

Q: What is the difference between Notes Payable and Accounts Payable?

A: Introduction: Accounts payable  is an account within the general ledger that represents a company's…

Q: the contra -asset of accounts receivable is

A: The contra assets of accounts are represented as the deductions from a gross account. The contra…

Q: Define Accounts payable.

A: Accounts payable refer to money owed by a entity to its creditors or suppliers from whom the entity…

Q: What is the impact on the accounting equation when an accounts receivable is collected

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: In what way do accounts receivables and accounts payables differ from each other

A: Solution: Accounts receivables represent amount owed by customer for merchandise sold by business.…

Q: Is Accounts Payable a debit, a credit, or a combination of the two?

A: Account payable has always a credit balance. It is liability for a person who have acquired some…

Q: 1. What is the formular for Accounts Recieveables?  2. What is the formular for Accounts Payable?

A: Accounts Receivable - Accounts Receivables are the amount that is not paid by the customers who had…

Q: Explain how to calculate accounts receivable turnover ratio.

A: Accounts receivable turnover: Accounts receivable turnover is a liquidity measure of accounts…

Q: What is accounts receivable management?

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

Q: Distinguish between accounts receivable and account payable.

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

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: What’s the difference between accounts payable and receivable?

A: If you use the accrual accounting system, you will have to deal with accounts receivable and…

Q: What is the:  Accounts Receivable   =                                     =     Accounts…

A: Accounts Receivable Accounts receivable which is treated as one of the main source of liquidity…

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 is Receipt and Payment Account? How is it different from Income and Expenditure Account?

A: Receipts and payment account is a real account. This account is a summarised cash book which…

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 does the accounts receivable turnover ratio measure, and how is it calculated?

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

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: How does account receivable work?

A: The term "account receivable" denotes that payment for previously completed work has yet to be…

Q: What account is the contra account of Account Receivable?

A: Contra asset account is shown as deduction from the assets in the balance sheet. Increase in Contra…

Q: What factors affect accounts payable turnover ratio?

A: Accounts Payable ratio is calculated by dividing total supplier purchases by the average accounts…

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

A: Note receivable is the instrument that represents the amounts of money borrowed or receivables…

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: What is the difference between Accounts Receivable andRevenue?

A: Accounts receivables: Accounts receivables refers to the debtors that arise in case of credit sales…

Q: Write the difference between accounts receivable and notes receivable.

A: Accounts Receivables:-It is the payment which the company receives from its debtors for the purchase…

Q: Define the term accounts receivable?

A:

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: Accounting Elements that affect receivables - discount, returns and valuations

A: Accounting elements that affect Receivables, discount,returns and valuations are credit…

Q: Describe the difference between an account receivable and an account payable.

A: Accounts receivable: Accounts receivable are money owed to business from debtors. These are payments…

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: 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: Distinguish between Receipts and Payments Account and Income andExpenditure Account.

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: A credit balance on accruals account indicates?

A:

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.