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When payment is received for services not yet rendered no entry is recorded until that service has been rendered?
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
What is meant by payment term OA 90 days?
Payment term OA 90 days refers to "open account" payment terms where the buyer is allowed to pay the seller within 90 days after the invoice date. This arrangement typically indicates a trust-based relationship, as the seller ships goods or provides services without requiring immediate payment. It is common in business-to-business transactions, allowing buyers to manage their cash flow effectively while still receiving the products or services needed.
What does payment on account by a customer mean?
It means to make a partial of full payment without specifying an specific reason or invoice for the payment.
Where to mail 940 without payment?
Where to mail 940 filing
What does OA 30 days mean?
"OA 30 days" typically refers to "Open Account" terms where payment is due 30 days after the invoice date. This means that the buyer can receive goods or services and has a month to settle the payment without incurring penalties. It's a common arrangement in business transactions, providing buyers a grace period to manage their cash flow.
What will be your contribution to be a good citizen?
Through volunteering in the community, citizens can contribute to the common good. Volunteerism, the practice of offering your time and services to others without payment, helps to improve society.
How did hamilton deal with the problem 12 million debt?
Hamilton dealt with the 12 million dollar debt by offering certificates to sale to the citizens. This bond offering allowed debt payment without bankrupting the new nation.
When payment is received for services not yet rendered no entry is recorded until that service has been rendered?
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
Are there any body shops that offer services without requiring a deductible payment?
Yes, some body shops may offer services without requiring a deductible payment, but this will vary depending on the shop and the specific circumstances of the repair. It is recommended to inquire directly with the body shop to see if they offer such services.
What is the exchange of goods and services without the use of money?
That is the economic practice of "bartering". Trading goods or services you have for the goods or services someone else has.
What happens if you practice law without a license?
Practicing law without a license is illegal and can result in serious consequences, such as fines, imprisonment, and being prohibited from practicing law in the future. It is important to obtain the necessary license and qualifications before offering legal services to avoid legal trouble.
What did ancient sumerians practice when they traded goods and services without using money?
Barter
What services does peaceharbor health clinic florence offer to those without health insurance?
It offers a couple services to there patients without insurance. They offer family practice and internal medicine.
Will Christmas effect my benefit payment date?
Usually governments make an early payment if the payment date would fall on a bank holiday when government services would not be working. Doing this means benefit claimants are not left without funds over a holiday.
What is the purpose of a payment voucher in an organisation?
The purpose of a payment voucher is to allow a person to pay for something without actually using currency. The voucher has no direct cash value but can be directly exchanged for goods or services where honored
What alternative payment options are available for purchasing products or services online without having to sign up for PayPal Merchant?
Alternative payment options for purchasing products or services online without signing up for PayPal Merchant include credit cards, debit cards, digital wallets like Apple Pay or Google Pay, and direct bank transfers.
What is it called when you work for free?
Working for free is called volunteering. It involves offering your time and skills without receiving payment in return, usually to help a cause or organization.
