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What is it called when a sale made to a customer on credit and creates ar on balance sheet known as?
When a sale is made to a customer on credit, it creates an account receivable (AR) on the balance sheet. This transaction reflects the amount owed to the company by the customer for goods or services delivered but not yet paid for. The account receivable is considered an asset because it represents a future inflow of cash.
What else can I help you with?
When a sale is made to a customer on credit it creates an AR which is classified as?
When a sale is made to a customer on credit, it creates an accounts receivable (AR). This AR is classified as a current asset on the balance sheet, as it represents money owed to the company that is expected to be received within a year. It reflects the company's right to collect cash from customers for goods or services provided on credit.
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
When a sale is made to a customer on credit it creates an AR that is classified on the Balance Sheet as...?
When a sale is made to a customer on credit, it creates an accounts receivable (AR) that is classified on the Balance Sheet as a current asset. This is because accounts receivable are expected to be collected within one year or one operating cycle, whichever is longer. As a current asset, AR reflects the amounts owed to the company by customers for goods or services delivered but not yet paid for.
When a sale is made to a customer on credit it creates an a r which is classified by your company as?
Asset
When a sale is made to a customer on credit it creates an Accounts Receivable which is classified by your company as?
an asset
When a cell is made to a customer on credit it creates an AR which is classified by a company as?
When a sale is made to a customer on credit, it creates an AR which is classified by the company as an accounts receivable.
Is a credit card customer paid interest for a credit balance?
No.
When a sale is made to a customer on credit it creates an AR which is classified as?
When a sale is made to a customer on credit, it creates an accounts receivable (AR). This AR is classified as a current asset on the balance sheet, as it represents money owed to the company that is expected to be received within a year. It reflects the company's right to collect cash from customers for goods or services provided on credit.
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
When a sale is made to a customer on credit it creates an AR that is classified on the Balance Sheet as...?
When a sale is made to a customer on credit, it creates an accounts receivable (AR) that is classified on the Balance Sheet as a current asset. This is because accounts receivable are expected to be collected within one year or one operating cycle, whichever is longer. As a current asset, AR reflects the amounts owed to the company by customers for goods or services delivered but not yet paid for.
When a sale is made to a customer on credit it creates an a r which is classified by your company as?
Asset
When a sale is made to a customer on credit it creates an Accounts Receivable which is classified by your company as?
an asset
When a sale is made to a customer on credit it creates an Accounts Receivable which is classified as?
Sundry Debtors
How much would a customer receive when the customer wishes to close the accounts that he has two accounts with bank A one with a debit balance of RM2000 and the other a credit balance of RM3000?
Customer will raceive RM1000 as a net balance receivable from bank
Can you explain how a credit card works when a customer makes a purchase?
When a customer uses a credit card to make a purchase, the card issuer pays the merchant on behalf of the customer. The customer then owes the card issuer the amount of the purchase, which is added to their credit card balance. The customer can choose to pay off the balance in full by the due date to avoid interest charges, or they can make minimum payments over time with interest added.
What is the normal balance of a revenue called?
credit
What is the maximum amount you can charge on a credit card called?
Assuming you mean as a customer - that's called your credit limit.
