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What are the components or materials used by Accounts receivable departments?
Ans) Accounts Receivable department is very vital department of the company. The responsibilities of the department is approval of credit limit to the customer study the past history of customer credit transfer invoices to the customer updation of the customer credit data factoring contacts with the factoring agents follow up of customers motivating the customers to give the dues intime and communicating the information to the management. Credit sales data estimation of credit sales for the future period recommened for for funds to finance department whenever they needed follow up of customers receivables management.
AL MASA a sole trader,decided to install a new machine to use
Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th
Replenishing the Petty Cash Fund Debit every expense account, supplies, or drawing as needed. Credit to Cash. Petty Cash is only debited when fund is established or increased.
You just took out a variable-rate mortgage on your new home. The mortgage value is $100,000, the term is 30 years, and initially the interest rate is 8%. The interest rate is fixed
Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
Problem 1: i) Assess the importance of accounting in the Public Sector. ii) How far has the Governmental Accounting Standards Board (GASB) changed financial reporting, ass
Investments by owners are raise in equity of a particular business enterprise resulting from transfers to it from other entities of something valuable to gain or increase ownership
Implication of applying accounting concept wrongly
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
when creating a trial balance, which account balances carry over from previous months
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