Accounts Receivable
The amount collectble is the past due or total balance due, plus costs, interest, and fees permitted by the contract or agreement.
Is not known yet is customer is getting return 'is investment amount.
The 1956 Ford Truck is in fact considered a collectible. The reasons for that is the small amount of produced Ford cars in 1956 and the even smaller amount of cars that are still remaining today.
Due from customer is asset for business as it is due to sale of goods to customer and if customer already paid the amount then that amount would be included in balance sheet.
Its a liability, an amount your company owe to that customer.
appoligize and give correct amount
Yes, customer deposits is that amount which is received in advance for the services in future.
I think it is rather expensive as it is a collectible year and not many made with that amount of gold.
When a customer's account is deemed uncollectible, it should be written off from accounts receivable. This involves removing the amount owed from the balance sheet and recognizing it as a loss in the income statement. This process helps ensure that the financial statements accurately reflect the company's collectible assets. Additionally, it may trigger a review of credit policies and collection practices to prevent future occurrences.
It's payable and collectible.
Giving your customer the right amount of change.
20 seconds.