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What is Red's average collection period Red Company has the following information Net credit sales 400000 Net income 100000 Average total assets 80000 Average accounts receivable 20000?
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What is the journal entry for collected on account 1200?
Debit cash / bank 1200Credit accounts receivable 1200If it is a collection from customer's account, thenDEBIT: Cash 1200CREDIT: Accounts Receivable 1200Collection from customer's account
What will acceleration in the collection of receivables tend to cause the accounts receivable turnover to do?
Acceleration in the collection of receivables will tend to cause the accounts receivable turnover to increase. Many companies use collection agencies to help them with this process.
An acceleration in the collection of receivables will do what to the accounts receivable turnover?
increase
Will the collection of an accounts receivable increase the total assets of a business?
No
Who of the following accounts would be closed at the end of the accounting period?
Accounts receivable
What is the journal entry for collected on account 1200?
Debit cash / bank 1200Credit accounts receivable 1200If it is a collection from customer's account, thenDEBIT: Cash 1200CREDIT: Accounts Receivable 1200Collection from customer's account
What will acceleration in the collection of receivables tend to cause the accounts receivable turnover to do?
Acceleration in the collection of receivables will tend to cause the accounts receivable turnover to increase. Many companies use collection agencies to help them with this process.
An acceleration in the collection of receivables will do what to the accounts receivable turnover?
increase
Will the collection of an accounts receivable increase the total assets of a business?
No
What is the accounting entry for collection of an Accounts receivable written off?
writtenoff A/C Dr. To Accounts Receivable Cr. (or) (To sundry Debtors A/c ) Cr.
Who of the following accounts would be closed at the end of the accounting period?
Accounts receivable
What information does the aging schedule for accounts receivable show that the average collection period may not?
The average collection period only shows how long it takes to collect your credit sales on average. The aging schedule shows your total accounts receivable, and the exact amounts that are owed in each time frame categories.
Does collection on account receivable increase both cash and accounts recievable?
NO
What is this no 1-800-278-7172?
A collection agency: Accounts Receivable Technologies
If the accounts receivable turnover ratio is decreasing what will happen to the average collection period?
Avg Collection Period increases.
Is sales the driving force for accounts receivable?
yes the sales will drive the main steam in the account receivable because when the sales happen the account receivable collection attampt will start
Carrying cost of accounts receivable?
Accounts Receivable Carry Cost considers cost factors such as cost of capital, bad debt, legal and collection fees, fees, credit card fees, discounts and service charges to evaluate the effectiveness of Accounts Receivable management provided
