Display graphically the mechanism of settlements by transfers upon request of a payee (direct debiting)

Q: What are the basic entries to recognize an account receivable?

A: Solution- Accounts receivable (AR) is money that your customers owe you for buying goods and…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: Outline how you would incorporate the following into the CCAPM:a. Liquidity.b. Nontraded assets. (Do…

A: The question is based on the concept of the consumption based capital asset pricing model (CCAPM).…

Q: Describe Deposits and Advances from Customers.

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: accounts receivable,

A: Account receivable :- When Company Goods sold or tendered service on Credit to customer and Company…

Q: Explain promissory notes?

A: Promissory note refers to a signed written document that contains an unconditional promise to pay…

Q: Explain the recording of transactions in the double-entry system. Discuss the principles of debits…

A: The objective of this question is to understand the double-entry system of accounting, the…

Q: Which of the following types of transactions can be uploaded into QBO using the Receipt action.…

A: QBO : It stands for QuickBook Online, an online platform for recording the business transactions.…

Q: For every debit there will be an equal credit according to a. Money measurement concept b. Dual…

A: According to the Dual aspect concept, each and every transaction has two aspects one is Debit and…

Q: What are age of receivables and how do you calculate them? Please explain

A: Accounts receivable form a part of assets of the entity and represents the amount due from the…

Q: State the meaning of Receipt and Payment Account.

A: Receipt and Payment Account: Receipt and payment Account is a summary of Cash book. Only…

Q: explain the relationship of fi nancial statement elements and accounts, and classify accounts into…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Which accounts commonly requires both debit and credit entries?

A: Debit and credit sides are two sides of a general ledger account. Normally all assets and expenses…

Q: HOW DO YOU FIND NET CURRENT RECIEVABLES

A: The total amount of money owing to a corporation by its clients minus the money owing that will most…

Q: Indicate how to present and analyze liabilities and contingencies.

A: The liabilities are the amount of money which a business has to pay to the outside parties. The…

Q: Define account receivable

A: The formula to compute accounts receivable turnover ratio as follows: Accounts receivable turnover…

Q: how do debits and credits work?

A: Debit and Credits: Debit and Credits are used as a basis of bookkeeping to book balance in the books…

Q: What is an invoice extension and how is it calculated?

A: Example:Assume you have an invoice with the following details:.Item A: Quantity = 6 units, Unit…

Q: List the steps we use to measure external transactions.

A: Measurement process of external transactions:

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.