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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?
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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 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 as?
Sundry Debtors
When a sale is made to a customer on credit it creates an Accounts Receivable which is classified by your company as?
an asset
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
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 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 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
What is the normal balance of a revenue called?
credit
What do you called on the excess in credit balance?
You answered your own question. Any payment applied over the amount due is simply called a credit balance.
What is the appropriate classification of customers accounts with credit balances in a balance sheet?
If a customers account has a "credit" balance, this means the company owes that customer rather than the customer owing the company. Customer accounts tend to have a debit balance, meaning the customer owes the company that amount. It is rare when a company owes a customer, if this does happen, the account becomes a liability instead of an asset because of the fact that now the company owes money rather than is "owed" money.
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.
When does a debtors account have a credit balance?
goods in transit a debtor(customer) could also be a supplier(creditor)
