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What else can I help you with?
Discount received from the supplier or allowed to customer for making the early payment of due is termed as..?
Trade Discount
What is rompala clause?
ownership of goods does not change hands until full payment has been received
Have you received your stimulus payment, or haven't got it yet?
I have not received my stimulus payment yet.
Can a title pledge lender refuse to take a payment?
If the payment is late or not in full, then yes. If the payment is on time and in full, then no.
What is a three party fed wire?
Actually, it is called a third party Fedwire. What it means is that a Fedwire payment, which is a real-time payment made over the Federal Reserve's Fedwire Funds Transfer system is being either initiated or received by a bank's customer (the "third party"). Many Fedwire payments are between banks (from one bank to another bank). But when a Fedwire payment involves a bank's customer, it is called a "third party" Fedwire.
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
What accounts affected in received payment on account?
"what accounts are affected and how when a payment on account is received from a customer
What account is credited when a payment is received from a customer?
Accounts receivable
When a check is received for the full payment of an AR account which of the following steps do you need to take?
Make sure that the customer account is credited and that cash is debited.
Is receiving payment from account customer a liability?
Because money is being received from customer we are not owing.
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.
What is the journal entry for cheque received towards payment from customer?
Debit bankCredit accounts receivable
Discount received from the supplier or allowed to customer for making the early payment of due is termed as..?
Trade Discount
When a check is received for the full payment of an AR account?
When a check is received for the full payment of an accounts receivable (AR) account, the business records the payment by debiting cash and crediting accounts receivable. This action reduces the accounts receivable balance, reflecting that the customer has settled their debt. Additionally, it may involve updating financial records to ensure accurate reporting of cash flow and outstanding receivables. Proper documentation should be maintained for auditing and accounting purposes.
How is a cash payment received from a customer for a product purchased on account recorded?
debit to cash and credit to accounts receivable
How is recorded a cash payment received from a customer for a product purchased on account?
debit to cash and credit to accounts receivable
What is rompala clause?
ownership of goods does not change hands until full payment has been received
