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What is an account receivable?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
Which accounts are affected when the company provides services to a cash customer?
When a company provides services to a cash customer, the cash account increases due to the receipt of payment, while the service revenue account also increases, reflecting the income generated from the service. This transaction is recorded as a debit to the cash account and a credit to the service revenue account in the company's financial records. Additionally, there is no impact on accounts receivable, as the payment is received immediately.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What is the definition of the term 'charge off'?
The term "charge off" is used when a company or creditor clears a persons account due to lack of payment at loss to the company. No further charges can be applied to the account.
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
Can a credit collection agency pursue payment on an account that has been closed for 10 years?
Yes, there is no statute of limitations on debt.
How can I make an online payment?
To make an online payment, you typically need to visit the website of the company or service you want to pay, log in to your account, navigate to the payment section, enter your payment information such as credit card details or bank account information, and confirm the payment.
Can capital one sue me for non-payment?
Capital One can sue someone for non-payment of their account. It is very unlikely that you will be sued by the company.
What is the payment of damages by the insurance company directly to the insured?
Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.
What is the account entry should do for a car company which is installment?
The account entry that you should do for a car company, if it's an installment payment, is a debit. This means that you have paid the bill and you deducting it from your bank balance.
Why should a company open a business savings account?
A company open a business savings account because it makes transaction and payment much easier. You can read more at www.citibank.com/savings
What is an account receivable?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
What is the statute of limitations for credit card debt in South Dakota?
The statute of limitations on credit card debt in South Dakota is six years. The company is allowed to aggressively pursue payment for that period of time.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
Which accounts are affected when the company provides services to a cash customer?
When a company provides services to a cash customer, the cash account increases due to the receipt of payment, while the service revenue account also increases, reflecting the income generated from the service. This transaction is recorded as a debit to the cash account and a credit to the service revenue account in the company's financial records. Additionally, there is no impact on accounts receivable, as the payment is received immediately.
What does it mean when your mortgage company says your taxes have been impounded?
This means that the mortgage company has included your taxes as part of your monthly payment. They take a portion of your payment every month, hold it in an account called an escrow account, and then disburse it according to the requirements of the county that your property resides in.
What is the definition of the term 'charge off'?
The term "charge off" is used when a company or creditor clears a persons account due to lack of payment at loss to the company. No further charges can be applied to the account.
