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What is an accounts receivable aging report used for in normal company operations?
Wiki User
∙ 14y ago
It tells you how much you have invoiced but not yet been paid at a certain point in time. It's basically an indicator of how long it takes your vendors to pay their bill to you.
Wiki User
∙ 14y ago
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Under normal business operations a company accounts receivable department is responsible for?
Billing
Is an accouts receivable account in accounting a debit or a credit balance account?
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
Normal balance of accounts receivable is?
Since its on the left side of the basic account equation of assets= liabilities + equity its normal balance would be a debit
Diff bet recurring and non-recurring items?
recurring are usually daily operations such as depreciation expense, prepaid expenses, accounts receivable, accounts payable, etc. They are a part of normal ongoing business. However, non-recurring items are things like gains and losses, changes in accounting policies that affects income. They are not usual a part of normal ongoing business.
Is revenue a cash or debit?
Revenue is always credit as all revenue accounts has credit balance as normal balance and cash received or accounts receivable is debit against it.
Under normal business operations a company accounts receivable department is responsible for?
Billing
Is an accouts receivable account in accounting a debit or a credit balance account?
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
Is accounts payable a debit or credit?
Accounts Payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.
Allowance for doubtful accounts is what type of account?
Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.
Normal balance of accounts receivable is?
Since its on the left side of the basic account equation of assets= liabilities + equity its normal balance would be a debit
Diff bet recurring and non-recurring items?
recurring are usually daily operations such as depreciation expense, prepaid expenses, accounts receivable, accounts payable, etc. They are a part of normal ongoing business. However, non-recurring items are things like gains and losses, changes in accounting policies that affects income. They are not usual a part of normal ongoing business.
Is revenue a cash or debit?
Revenue is always credit as all revenue accounts has credit balance as normal balance and cash received or accounts receivable is debit against it.
What is the journal entry to record retainage receivable?
Retainage is recorded on the balance sheet. The contractor, to whom the retainage is owed, records retainage as an asset. The client, who owes retainage to the contractor records retainage as a liability. Retainage receivable accounts have a normal debit balance; retainage payable accounts have a normal credit balance.
When an accounts receivable is collected in cash the total assets of the business increase?
the increase side of an account is also the side of the normal balance
Is sales a debit balance?
Sales is a revenue account and like all revenue accounts sales also has credit balance as normal balance and cash or accounts receivable are debit against it.
What is a difference between trade receivable and other receivable?
Trade receivables arising in normal course of business but other receivable is not.
How does computerized accounting differ from normal accounting?
Computerized accounting is done using accounting software packages and spreadsheets to compile data; traditional bookkeeping is done in long form using ledgers and accounts receivable and accounts payable forms.
