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Difference between account receivable and notes receivable?

An account receivable and a note receivable both refer to money that is owed to you/your company by another person/company. Both can be current assets or long term assets. However, the difference in the two is:A Note Receivable has some form of contract signed, [i.e. promissory note etc.] while an account receivable does not. A note receivable is generally paid out at equal interval payments and generally carries interest, while an account receivable can carry interest it generally does not.


What is the difference between finance manager and accountant?

A finance manager is often over a finance department for a company. They can also manage finances for an individual. An accountant prepares reports and does the actual work of payroll, purchase orders, accounts receivable, accounts payable and more. An accountant may work alongside or under a finance manager.


Why do companies sell their receivables?

Company sell their receivable to accelerate the receipt of cash from receivable.


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


What is account payable and receivable?

Account payable is a record of money your company owes to another company/person. Account receivable is a record of money owed to your company by another company/person.


Where can you find out what factors into receivable accounts?

Receivable Accounts are amounts owed by customers for goods and services a company allowed the customer to purchase on credit. Receivable Accounts are an important factor in a company's working capital.


Role of cost accountant in a manufacturing company?

Kindly furnish me with the roles of a cost accountant in any manufacturing company


On a company's balance sheet where is accounts receivable classified?

on a company's balence sheet account receivable is classified under assets. Accounts Receivable is a Current Asset and usually listed below Cash and Cash Equivalents.


Why might a business prefer a note receivable to an account receivable?

The main difference is: An account receivable is an account that is expected to be paid off in one year or less making it a current asset. A note receivable is generally used for any account that.Accounts Receivable and Notes Receivable are very important to a company. These two accounts will show money that is owed to a company and they increase said company's assets. Investments shows money.Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivables.


When a company receives an interest-bearing note receivable it will do what?

debit Notes Receivable for the face value of the note.


When a company receives an interest-bearing note receivable?

Debit notes receivable for the face value of the note.


Prepare general journal entries for the following transactions of this company for the current year?

DateItemDebitCredit25-AprNotes Receivable$4,500Sales$4,50024-JunInterest Receivable$75Interest Revenue$7524-JunAccounts Receivable$4,575Notes Receivable $4,500Interest Receivable$75