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What is the entry for deferred revenue?
dr Bank/Accounts Receiveable (A) xxx cr Deferred Revenue (L) xxx
What is the purpose of the schedule of accounts receivable?
Purpose of schedule of accounts receiveable is to determine that who has not paid for long time and who needs more efforts to be put to recover amount receivable.
What is the purpose of schedule of accounts receivable?
Purpose of schedule of accounts receiveable is to determine that who has not paid for long time and who needs more efforts to be put to recover amount receivable.
How can a transaction not affect liability and equity accounts?
A shift in assets would not affect liability or equity: Receive payment of an Accounts Receiveable, Purchase a Fixed Asset with Cash, move funds from Cash to Investments (Bonds, etc.).
When revenue is accrued what is the effect on assets and income respectively?
Both Increase. Accounts Receiveable (asset) goes up as a debit and Sales (income) goes up as a credit.
What three sources of cash allow a company to continue its operations?
Cash from Operations (Sales/Accounts Receiveable) Cash from Loans Cash from Capital Investment/Stock issuance (Equity)
Can account receiveable be found on a balance sheet?
Accounts receivable are those money which is receivable in future from debtors and it is current assets of business and shown in balance sheet at assets side.
What accounts record the payment of the interim dividend?
surinder's accounts
How you record accounts payable settlement in journal entry?
debit accounts payableCredit cash / bank
How do you record allowance for doubtful accounts?
Recording an allowance for doubtful accounts can vary depending on the chart of accounts for the specific place of business. Usually to record an allowance for a doubtful account is to debit revenue and credit the write off account.
An accounting record that includes a list of accounts and their balances at a given time is called a?
An accounting record that includes a list of accounts and their balances at a given time is called a trial balance.
Do banks have to keep a record of all accounts ever had?
Yes.
