What is the difference between a clock card and time ticket?

Q: What is the purpose of the cash receipts journal?

A: MEANING : PURPOSE: It is used to track the sales of items while cash is being received, by…

Q: What is the use of payment request forms?

A: Payment request form a requisition form used for the request for payment. This request is a non…

Q: What are the types of accounts receivable?

A: Account receivable is an asset account that represent amount due to the company from debtors…

Q: How does account receivable work?

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

Q: Which of the following are unique identifiers associated with checking accounts? account number O…

A: Account number: An account number is a unique identifier for your personal bank account. It tells…

Q: What is the difference between a bill and a payment

A: Answer: Bill and payment are two different terns that can be used for same document. The two terms…

Q: What is a credit memo? Why it is used? Give an example?

A: Credit Memorandum: This is a document by the seller for the reduction in the amount owed by the…

Q: Withdrawal is a temporary account?

A: Temporary accounts refer to accounts that are closed at the end of every accounting period. These…

Q: What is a double-entry bookkeeping system?

A: The accounting is a process to classify the transactions, record the transactions and prepare the…

Q: Why should cash receipts be deposited on the day of receipt?

A: Cash receipts refers to the money received in the form of cash on a specific date or during a…

Q: What are the advantages and disadvantages of using a credit card?

A: There are various advantages when using a credit card as a method for purchasing goods. Following…

Q: Explain promissory notes?

A: Promissory note refers to a signed written document that contains an unconditional promise to pay…

Q: What is the definition of a general ledger account?

A: A company's double-entry accounting system is built around the general ledger.

Q: What are the different kinds of digital currency and it's special features?

A: Digital money is the currency that is exclusively available in digital or electronic form. It is…

Q: What is deposits in transit?

A: Definition: Bank reconciliation: Bank statement is prepared by the bank. The company maintains its…

Q: What is a schedule for accounts receiveable?

A: AR stands for Accounts Receivable which is defined as the balance of amount due to the company for…

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

A: Receivable: It can be defined as the amount that is owed by the customers from the business.

Q: WHAT ARE THE MAIN DOCUMENTS USED FOR PAYDAYLOAN ?

A: A payday loan is a high-cost unsecured loan that can be availed at the time of a short-term…

Q: What is pledging of accounts receivable?

A: Accounts receivable: Accounts receivable is defined as any amount of money payable by…

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 IF function can be used to determine whether or not an amount in a certain cell should be a…

A: A journal entry is the first step in including a transaction into the books of accounts. Under the…

Q: What is aging of receivables?

A:

Q: Why might a business prefer a note receivable to an account receivable?

A: An account receivable is a simple promise to repay the seller done by customer which is due as a…

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: What is an invoice?

A:

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: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

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 bookkeeping

A: Book Keeping is one of the functions of accounting.

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: what is credit transactions?

A: credit transactions:-    Credit transaction is a transaction of which the repayment of money loaned…

Q: What is the difference between inactive and dormant accounts?

A: Account: It is the basic record that reports all changes in the value of particular assets,…

Q: Why does Accounts receivable often are referred to as trade receivables?

A:

Q: What's the difference between a chart of accounts and general ledger?

A: Charts of Accounts: Charts of accounts are the list of all the accounts which the company has. It is…

Q: What is line of credit?

A: Introduction: Usually, the word loan refers to a form of credit facility where a certain amount of…

Q: Define the term accounts receivable?

A:

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

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

Q: what does a general ledger do?

A: The ledger seems to be a book of accounts that contains the categorized and summarised information…

Q: What is a credit memo? When is it used?

A: Credit memo also known as credit memorandum or credit note  Credit memo is issued by the seller of…

Q: What is receipt and payment account

A: The answer is provided as follows:

Q: What is a credit note

A: Step 1 Credit note as the name depicts it generates some beneficiary status to some third party.

Q: What is off-exchange transaction?

A: The answer is provided in the next step.

Q: What are cash receipts?

A:

Q: What is a contra account?

A: