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How will u handle accounts receivable?
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Answer / samadhan
Accounts Receivable is current assets of the business. It comes in balance sheet at Asset side.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / muhammad younus (cat, acca stu
Accounts Receivable (A/R): is the income which is earned but did not receive yet. this is the Accrual principal of Accounting, in which we should be recording income as when we earned it but not yet received cash for the transaction of income.
Accounts Receivable is preparing when there are credit transaction occurred. i.e : mr A purchase goods from Mr. B for $20000 on credit for two month.
Ans: when we goes to record this one in book of Mr. A then the transaction will be look like as :
purchases goods: $20000 Dr. (inventory is current asset)
Mr.B(a/c payable): $ 20000 Cr. (current liability) and
in book of Mr B:
Mr. A (Account Receivable a/c.): $20000 Dr.(current asset)
Sales (income statement/ P/L a/c.) : $20000 Cr. (income a/c)
after two month when when MR.A PAID for his purchased goods.
then he will be recorded it in his book as:
Mr.B (a/r) : $20000 DR (current Liability a/c)
cash paid for purchase: $20000 Cr (current asset) and
in book of MR. B as cash received from Mr.A:
cash (cash book): $20000 Dr (current asset)
Mr. A (account payable) : $20000 Cr (current liability)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / naveen kumar.karumuri
Based on the Sales During the year..
Thank You.
Naveen Kumar.karumuri
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / c. nagaraju
First we need to pass an entry in the books. If it is in
cash, it has to be entered in the cash book. Suppose if it
is through cheque the JE has to be passed and has to
deposited into bank, then pass the entry in bank book,
then draw it and transfer it to cash book. both the contra
entries has to be passed in BANK & CASH book.
| Is This Answer Correct ? | 4 Yes | 5 No |
Answer / sunny
When you sell or incur a service
Debit Accouts receivable (asset account)
Credit Sales Account.
When You acually receive cash from Customer
Debit cash/bank account (Asset)
Credit Accounts Receivable (Asset)
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / mr.sameer mahadik
Above person is right,i am agree to their
explanation.....but in short.....it should be comes in debit
side of cash or bank a/c & assets side in current assets to
sub ledger of debtors or other receivables with all
procedger what said above person.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / jahangeer
Attn: Accounts Dept.
Print Statement of Account of the Customer( Debtor )and
write
Please settle your outstanding amount as soon as possible.
and send by fax or call
| Is This Answer Correct ? | 6 Yes | 14 No |
Answer / rahul
Accounts Receivable shows the sources of liquidity from
where it comes .
| Is This Answer Correct ? | 9 Yes | 25 No |
Answer / none
i am sorry to say lata but its a question not a joke or not
a toy which can u handle easly ok.
verma_kumar2007@rediffmail.com
| Is This Answer Correct ? | 12 Yes | 35 No |
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