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A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
For calculating accounts receivable balance we need accounts receivable turnover rate So Accounts receivable turnover rate = number of days in year/annual sales outstanding accounts receivable turnover rate = 360/40 = 9 Accounts receivable balance = 7300000/9 Accounts receivable balance = 811111
Accounts receivable is decreased with a?
Accounts receivable is decreased with credit balance or by receiving the cash from customers.
What is Accounts Receivable is classified under on a balance sheet?
Accounts Receivable is classified under current assets on a balance sheet. This category includes amounts owed to a business by its customers for goods or services provided on credit. Since these receivables are expected to be collected within a year, they are considered short-term assets.
Does accounts receivable go on a balance sheet as liabilities and equity?
Accounts receivable would appear as an asset (+) on a balance sheet.
Does accounts receivalbe carry a credit or debit balance?
Accounts receivable is an asset of company and like all other assets accounts accounts receivable also has debit balance.
On a company's Balance Sheet Accounts Receivable is classified under Liabilities and Equity?
equity
On the trial balance sheet AR is what?
AR related to accounts receivable in trial balance sheet of business.
A firm has a days sales outstanding of 40 days and its annual sales are 7300000 what is the accounts receivable balance?
For calculating accounts receivable balance we need accounts receivable turnover rate So Accounts receivable turnover rate = number of days in year/annual sales outstanding accounts receivable turnover rate = 360/40 = 9 Accounts receivable balance = 7300000/9 Accounts receivable balance = 811111
Accounts receivable is decreased with a?
Accounts receivable is decreased with credit balance or by receiving the cash from customers.
What is Accounts Receivable is classified under on a balance sheet?
Accounts Receivable is classified under current assets on a balance sheet. This category includes amounts owed to a business by its customers for goods or services provided on credit. Since these receivables are expected to be collected within a year, they are considered short-term assets.
Does accounts receivable go on a balance sheet as liabilities and equity?
Accounts receivable would appear as an asset (+) on a balance sheet.
Can accounts receivable normally have a debit balance?
Accounts receivable in an asset account and normally maintains a debit balance. So the answer is Yes.
Does accounts receivalbe carry a credit or debit balance?
Accounts receivable is an asset of company and like all other assets accounts accounts receivable also has debit balance.
Is An account receivable is typically classified as a revenue?
No, accounts receivable is not classified as revenue. Instead, it represents amounts owed to a company by its customers for goods or services that have been delivered but not yet paid for. Revenue is recognized when the sale occurs, while accounts receivable reflects the outstanding balance that will convert to cash once payment is received.
Accounts receivable is under what statement?
Accounts receivable is a benefit receivable in future time that's why it is recorded in balance sheet of company
Accounts receivable are reported on the balance sheet at?
Accounts receivable shown in balance sheet at assets side under current assets section.
Does accounts receivable normally have a credit balance?
no
