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What is ACOUNTS RECEIVABLE LEDGER
Businesses have several customers and individual businesses aren't assigned an account number they are just in alphabetical order.
Accounts Receivable is controlling account.
Debit is normal balance
Posting - Accounts Receivable ledger - totals and individual accounts
SALES JOURNAL only records sale of merchandise on account.
Post totals monthly and individual accounts on an everyday basis
Q. What is Purchase Discounts account? The buyer records the purchase discount merely when the invoice is paid within the discount period and the discount is taken. The Purchas
Spin off is making new company by selling or distributing the shares of existing company
does immaterial items have to be recorded
Q. Transactions affecting only the balance sheet? Since every transaction affecting a business entity must be recorded in the accounting records analyzing a transaction before
Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip
How the use of different accounting policies affect the financial performance of different entities operating within the same industry
problems and solutions
need help to do assignment
started in business with cash 16,000
Q. General accepted accounting principles? In general accepted accounting principles (GAAP) set forth standards or methods for presenting financial accounting information. A
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