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Bill recievable and bill payable journal entries?
Entry of bill recievable is: Bill Recievable A/c dr. To debtor
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
Is accounts recievable a current liability?
Accounts receivable is a current asset, never a current liability.
Does collection on account receivable increase both cash and accounts recievable?
NO
When a sale of merchandise is made for credit what three accounts are increased?
Accounts Recievable, Cost of Goods Sold, and Sales Revenue.
What is average gross accounts receivable?
Average gross accounts recievable is the beginning balance for accounts recievable and the ending balance for A/R divided by two.
Bill recievable and bill payable journal entries?
Entry of bill recievable is: Bill Recievable A/c dr. To debtor
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
What is net trading?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
What is assets trade?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
What is net trading assets?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Is accounts recievable a current liability?
Accounts receivable is a current asset, never a current liability.
In quickbooks an accounts recievable report summarizes sales by items?
False
Does collection on account receivable increase both cash and accounts recievable?
NO
When a sale of merchandise is made for credit what three accounts are increased?
Accounts Recievable, Cost of Goods Sold, and Sales Revenue.
An accrued revenue adjustment has what effect on net income?
it will increase your income and Accounts recievable
Is accounts recievable an asset account?
Accounts receivable is that amount which is creates due to sales to customers on credit and used instead of cash from customer that's why it is current asset.
