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Why allowance for receivables isn't recognised in receivables control account?
Wiki User
∙ 10y ago
If you are working on accounting for a business and the allowance for receivables isn't recognized in the receivable control account, it be because a client hasn't paid. It may also be because the accounts have not been reconciled.
Wiki User
∙ 10y ago
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What are the types of Control Account?
sales control account purchases control account
There are two types of control account what are they?
sales ledger control account and purnchase ledger control account
What condition must be met for a transfer of receivable to be accounted for as a sale in accounting term derecognized?
a. Conditions must be met for a transfer of receivables to be accounted for as a sale: Three conditions are transferor surrenders control of the future economic benefits of the receivables, transferor's obligation under the recourse provision can be reasonably estimated, and the transferee can require the transferor to repurchase the receivables.
What is control account control account?
A control account is a summary of the individual accounts in the subsidiary ledger(purchases or sales ledger) :)
Format for Debtors control account and creditors control account?
debtors
What are accounting processes that are readily performed by a computer?
payroll Inventory Control Receivables Payables Schedules
What are the types of Control Account?
sales control account purchases control account
What are the different type of control account?
sales control account purchases control account
There are two types of control account what are they?
sales ledger control account and purnchase ledger control account
What condition must be met for a transfer of receivable to be accounted for as a sale in accounting term derecognized?
a. Conditions must be met for a transfer of receivables to be accounted for as a sale: Three conditions are transferor surrenders control of the future economic benefits of the receivables, transferor's obligation under the recourse provision can be reasonably estimated, and the transferee can require the transferor to repurchase the receivables.
What is control account control account?
A control account is a summary of the individual accounts in the subsidiary ledger(purchases or sales ledger) :)
Format for Debtors control account and creditors control account?
debtors
Which component of Windows 7 prompt users for permission or credentials?
It is called User Account Control.
What are the elements of a Control Account?
a control account is a management control point that defines the work, schedule and budget and monitors timely accomplishment of the work.
Define wages control account?
Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.
What is a subsidiary account?
A subsidiary account is an account that is found in the subsidiary ledger. It is used to summarize the control account.
What country does the service Credit Control operate out of?
The service Credit Control LLP is based out of the state of Missouri in the United States. Currently, the company offers services based on receivables management to businesses and organizations in the U.S. and internationally.
