Micheal on 31st August 2014; SOUTHBANK Colornbo St Branch PAY THE SUM OF RANSFERABLE PAYEE ONLY bay Jor Cheque Duty Paid 20 or bearer

Q: Encashing the bill before the due date is called from bank

A: Introduction: Bills of exchange: Bills of exchange is mostly used for international trade. Its an…

Q: Describe the accounting for refund liabilities.

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

Q: What is the formula for calculating interest on a note receivable?

A: Introduction:- A note receivable is a written promissory note to receive a specified amount of cash…

Q: Describe the Subsequent Valuation of Accounts Receivable.

A: Accounts receivable    It refers to the amount for which the services and goods have been delivered…

Q: What is the principal of a note?

A: A note is a promise to pay a specific amount of money to the payee on a future date. It is a…

Q: Identify which one of the following is a document issued by an individual to his or her bank,…

A: Instrument issued by the pay for operating the payment and receiving settlement. There are many…

Q: Define the Note Issued for Cash.

A: Promissory Note:   A promissory note is a legal and financial tool that contains a written promise…

Q: What are warranty payments? Please explain.

A: A Warranty is a basically a handwritten promise made by the seller to the buyer on paper that if the…

Q: List and explain the four categories of loans.

A: Loans are financial transactions where one party, typically a lender such as a bank or financial…

Q: Which ones have a credit balance? Bills in arrears Promissory notes receivable in advance

A: The different accounts in the business have normal Debit and credit balance. The assets and expenses…

Q: How can Notes Receivables be sold to another party? What is the process exactly? Please explain.

A: Notes receivables are current assets of a company. Many companies sell their products or services on…

Q: Describe Deposits and Advances from Customers.

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Q: Explain the accounting for a service-type warranty.

A: Warranty: Warranty can be defined as a promissory document which is given by the manufacturer to…

Q: - Which of the following receivables is allocated for? A) Receivables from partners B) Receivables…

A: The correct option is  A) Receivables from partners

Q: A promissory note is"inchoate" until it has been delivered to the____ a. payer or bearer b.payee…

A: Lets start with basic understanding. As per bill of exchange Act 1982, Promissory note is a…

Q: Explain the initial measurement of long-term notes receivable.

A: solution : Explain the initial measurement of long-term notes receivable. Long term note receivables…

Q: The total that must be paid when a note becomes due is known as the note value. maturity value. face…

A: A Note is a Debt Instrument. It accrues interest on the principal value and the total amount due at…

Q: When interest is accrued on a Note Receivable, the journal entry to record the accrued interest…

A: A promissory note, also known as a note receivable, is a spoken commitment from the borrower to pay…

Q: What items are listed on a loan document

A: There are various kinds of loans that an individual can take from a bank or a financial institution.…

Q: How did you calculate the note payable long term for xi

A: Notes Payable are defined as the long-term liabilities that represent the amount to be paid by the…

Q: On August 1, 2024, Trico Technologies, an aeronautic electronics company, borrows $20.1 million cash…

A: The accrued interest is current liability for the business as interest is accrued for payment but…

Q: What is the meaning of present value of notes receivable.

A: To understand the present value of notes receivable, first we need to understand what note…

Q: 3. Should a note receivable from a related party be included in the balance sheet with notes…

A: Balance sheet:   Balance sheet is a summary of assets, liabilities, and equity account that reports…

Q: Which of the following is considered receivables? (select all that applies)  rents   note payables…

A: Receivables are the amounts that are expected to be received by an entity either at present day or…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: The journal entry to record accrued interest on a short-term note payable includes a debit to: A.…

A: Accrued interest is the interest that is accrued over the period.

Q: How to calculate the notes payable

A: Notes payable are long-term liabilities that indicate the money a company owes its financiers—banks…

Q: Explain the subsequent measurement of long-term notes receivable.

A: Long-term notes receivable are those notes which are due for more than one year after the date of…

Q: Explain the accounting for long-term notes payable.

A: Notes payable: Notes payable is a written promise to make payment for specific sum at a certain…

Q: Explain the term Transfers of Notes Receivable.

A: Note receivable: Note receivable refers to a written promise for the amounts to be received within a…

Q: What is the formula to compute interest on a note receivable?

A: Note receivable: Note receivable refers to a written promise for the amounts to be received within a…

Q: Define the characteristics of Notes Payable?

A: A notes payable is described as the written promissory notes. By issuing notes payable, the debtor…

Q: There are four types of accrual / deferral accounts. Please provide a definition and example of each…

A: The accrual and deferral Accounts are created under accrual basis accounting.

Q: Explain Long-Term Notes Receivable with example.

A: Notes receivable: An asset representing the right to receive the principal amount contained in a…

Q: Discuss the different part of SAGE 50 Peachtree A.payables B.receivable C.inventory D.payroll

A: Introduction: In any kind of organization, there include different functional departments like human…

Q: The bank or other financial institution where the cheque can be presented for payment. a. BDO b.…

A: BDO : Full form of BDO is bank development organization.  It works for the development of bank.…

Q: How did you get the discount on Note payable in JE number 2?

A: Truck #2Truck$14,727  Discount on Notes Payable$1,273        Cash $2,000       Notes Payable $14,000…

Q: initial measurement of short-term notes receivable

A: Short-term notes receivable are notes issued by the debtor, the amount in respect of which is…

Q: Display graphically the mechanism of settlements by transfers upon request of a payee (direct…

A: Direct Debit is a payment method in which a third party is granted permission to take payments from…

Q: Calculate the simple interest note proceeds. calulate the simple discount note proceeds.

A: INTRODUCTION Simple interest note: Note receivable is the bill drawn on customer for the due amount…