Question

How would you describe the entries to record the disposition of accounts receivable? What is their...

How would you describe the entries to record the disposition of accounts receivable? What is their function?

Homework Answers

Answer #1

Answer:

The entries to record the manner of record receivable is recorded to demonstrate that how we have reserves utilizing the records receivable who still need to pay either utilizing them as security or pitch them to factoring.

This is the most normal for providers as the vast majority of the shoppers for the most part pay toward the finish of the credit time frame and assets would be important for substance to convey its everyday capacity.

The fundamental capacity is to uncover to the clients of fiscal reports how money is made for proceeding with the everyday tasks utilizing the indebted individuals who still need to pay.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
How would you describe the entries to record the disposition of accounts receivable? What is their...
How would you describe the entries to record the disposition of accounts receivable? What is their function? Post a 100-200 word response by clicking on Reply. Be sure to participate during the week in continued discussions with your fellow classmates.
Which of the following entries or sets of entries would record sales for the month of...
Which of the following entries or sets of entries would record sales for the month of July of $200,000 for goods costing $119,000 for? Multiple Choice A Accounts Receivable 200,000        Sales 200,000 B Accounts Receivable 200,000        Sales 200,000 Cost of Goods Sold 119,000        Work in Process 119,000 C Cost of Goods Sold 119,000 Net Income 81,000       Sales 200,000 D Accounts Receivable 200,000       Sales 200,000 Cost of Goods Sold 119,000      Finished Goods 119,000
Listed below are 2 independent situations involving the disposition of receivables. Prepare the necessary journal entries....
Listed below are 2 independent situations involving the disposition of receivables. Prepare the necessary journal entries. Colaw Company sells $700,000 of its receivables to Speedy Factors. Speedy Factors assesses a finance charge of 3% of the amount of the receivables. Prepare the journal entry that Colaw would make to record the sale of the recievables. What I am assuming I will be doing is 700,000 x3 so 700,000 -21,000 so cash db 679,000 loss of sale receivable debit 21,000 account...
Suppose you are the manager of an accounts receivable unit in a large company. You are...
Suppose you are the manager of an accounts receivable unit in a large company. You are switching to a new system of billing and record-keeping and need to train your three supervisors and 28 employees in the new procedures. WHat training method would you use and why?
Describe what measures might best be used to monitor the appropriateness of accounts receivable balances. Describe...
Describe what measures might best be used to monitor the appropriateness of accounts receivable balances. Describe the data points needed to construct each measure described.
Post the entries in the general journal below to the Accounts Receivable account in the general...
Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company. Assume the following account balances at January 1, 2019: Accounts Receivable (control account) $ 7,440 Accounts Receivable—John Gibrone 4,400 Accounts Receivable—Jim Garcia 2,060 Accounts Receivable—June Lin 980    GENERAL JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 2019 Jan. 8 Cash 440 Accounts Receivable/John Gibrone 440 Received partial payment on account...
The following information is available for Quality Book Sales’ sales on account and accounts receivable: Accounts...
The following information is available for Quality Book Sales’ sales on account and accounts receivable: Accounts receivable balance, January 1, 2016 $ 79,600 Allowance for doubtful accounts, January 1, 2016 4,930 Sales on account, 2016 561,000 Collection on accounts receivable, 2016 567,000 After several collection attempts, Quality Book Sales wrote off $2,960 of accounts that could not be collected. Quality Book Sales estimates that 5 percent of the ending accounts receivable balance will be uncollectible. Required: a. Compute the following...
Assignment: Present entries to record the following for a business that uses the Allowance Method: Record...
Assignment: Present entries to record the following for a business that uses the Allowance Method: Record the adjusting entry at 12/31/19, the end of the fiscal year to provide for doubtful accounts. The accounts receivable account has a balance of $100,000 and the contra asset account, before adjustment has a debit balance of $700. Analysis of receivables indicates doubtful accounts of $4,500 In March of the following fiscal year $610 owed by the Filthy Disgusting Yankees Inc was written off....
The following information is available about a company's accounts receivable: June 30 - Accounts receivable balance:...
The following information is available about a company's accounts receivable: June 30 - Accounts receivable balance: $50,000. Nov 15 - Received Cash of $40,000, and wrote off the remaining balance. Dec 15 - Recovered the amount written off on Nov 15. Under the direct method, the entries to record the cash recovered on Dec 15 are: Select one: A. 1. Debit Accounts Receivable, Credit Bad Debt Expense for $10,000; 2. Debit Cash, Credit Accounts Receivable for $10,000. B. 1. Credit...
The following information is available about a company's accounts receivable: June 30 - Accounts receivable balance:...
The following information is available about a company's accounts receivable: June 30 - Accounts receivable balance: $50,000. Nov 15 - Received Cash of $40,000, and wrote off the remaining balance. Dec 15 - Recovered the amount written off on Nov 15. Under the direct method, the entries to record the cash recovered on Dec 15 are: Select one: A. 1. Debit Accounts Receivable, Credit Bad Debt Expense for $10,000; 2. Debit Cash, Credit Accounts Receivable for $10,000. B. 1. Credit...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT