P 4,600 2,500 5,000 1,400 5,400 10,000 2,000 1,500 1,400 2,600 7,300 3,700 Accrued interest income Accrued interest expense Prepaid Rent Unearned interest Allowance for Bad Debts Accumulated depreciation Freight in Freight out Purchase Retums & Allowances Purcbase discount Sales Returns & Allowances Sales discount

Q: What is credit quality, and how is it assessed?

A: Credit quality:   Credit quality defines how much a company is capable of repaying its debt on time…

Q: urrent ratio and accounts re

A: A company's liquidity and ability to satisfy its short-term financial obligations can be determined…

Q: What's the difference between accounts payable and receivable?

A: Accounts Payable is the current liability for the business and Accounts Receivable is a current…

Q: What is the difference between Notes Payable and Accounts Payable?

A: Introduction: Accounts payable  is an account within the general ledger that represents a company's…

Q: hat is the difference between a nominal account and a real account?

A: Accounting transactions for a separate fiscal year are recorded in a nominal account. Accounting…

Q: What are credit terms?

A: Credit terms or terms of credit It is the vender purchaser agreement that rundowns the planning and…

Q: Describe the accounting treatment of notes receivable

A: If the note receivable is due within a year, then it istreated as a current asset. They are commonly…

Q: In what way do accounts receivables and accounts payables differ from each other

A: Solution: Accounts receivables represent amount owed by customer for merchandise sold by business.…

Q: Is Accounts Payable a debit, a credit, or a combination of the two?

A: Account payable has always a credit balance. It is liability for a person who have acquired some…

Q: How does assignment of accounts receivable differ from factoring?

A: Financial Management  Financial management is the area of business concerned with allocating the…

Q: On a balance sheet what does a line of credit do to the balance sheet does it offset notes payable?

A: A line of credit is an important aspect of accounting in  which the lender and the borrower come…

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: Define Receivable Management and Credit Policies

A: Receivable Management : managing the outstanding   Credit Policies  : Selling on credit to parties…

Q: what is debit and credit?

A: Debits and credits seem to be a bookkeeping notation framework that determines how and where every…

Q: What are three differences between accounts receivable and notes receivable?

A: Short-term assets, such as accounts receivable, are assets that are supposed to be recovered within…

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 are the differences between Notes Payable and Accounts Payable?

A: Explain the difference between a note payable and an account payable as follows:Notes payable: A…

Q: What factors affect accounts payable turnover ratio?

A: Accounts Payable ratio is calculated by dividing total supplier purchases by the average accounts…

Q: Credit entry in a nominal amount is

A: Credit entry in a nominal account is:- Cash account      Debit  Income and Gains account   Credit

Q: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

Q: Hi why is the net income on the credit side and not debit?

A: Net Income - Net Income is the result of the revenue over expense incurred by the company. It will…

Q: What is the extent of the assignment of credit? Explain

A: Assignment of credit is explained as under:

Q: what is credit transactions?

A: credit transactions:-    Credit transaction is a transaction of which the repayment of money loaned…