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Discuss when an account receivable should be established

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Reference no: EM13865761

1) Define and discuss when an Account Receivable should be established.

2) Is a receivable an asset or a liability? Provide reasoning.

3) What happens when a Receivable is uncollectable?

4) What is a Note Receivable? What types of terms usually exist? How is the interest calculated?

5) How are Receivables sold / factored? What are the advantages? What are the disadvantages? Discuss.

6) What are some internal controls that you would expect to see around the accounts receivable process?

Reference no: EM13865761

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