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bija089 [108]
3 years ago
5

What are main types of accounts receivable

Business
1 answer:
Xelga [282]3 years ago
3 0

Answer: Receivables can be classified as accounts receivables, notes receivable and other receivables ( loans, settlement amounts due for non- current asset sales, rent receivable, term deposits). An example of accounts receivable includes an electric company that bills its clients after the clients received the electricity. The electric company records an account receivable for unpaid invoices as it waits for its customers to pay their bills.

Hope this helps....... Stay safe and have a Merry Christmas!!!!!!!! :D

Explanation:

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Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $131,750.
aleksklad [387]

Answer:

$3,553

Explanation:

Credit losses = Net credit sales × Historical percentage of credit losses

= $131,750 × 3%

= $3,953

Allowance for doubtful account has a credit balance of $400

The estimated bad debt expense can therefore be calculated as:

Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance

= $3,953 - $400

= $3,553

Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553

5 0
3 years ago
Assume that you are a freshman and live in your school's dormitory. The agreement you've signed with the school states that you
andriy [413]

Your agreement with the school best approximates a tenancy for years.

<h3><u>What is tenancy?</u></h3>
  • A legal arrangement known as tenancy in common (TIC) allows two or more persons to jointly hold a piece of real estate or a plot of land.
  • The amount of total property, whether commercial or residential, under the ownership of each independent owner may be equal or different.
  • Tenants in common refers to the parties. One of the three types of joint ownership is tenancy in common.
  • Joint tenancy and entire tenancy are the other two categories. When a tenant in common passes away, their portion of the property falls to their estate, where a beneficiary of the share of property may be named. A TIC has no right of survivorship.

The dormitory agreement has a starting and ending point making it a tenancy for years.

Know more about tenancy with the help of the given link:

brainly.com/question/14399900

#SPJ4

5 0
2 years ago
Investments created to invest many people's money in many different firms are called:
Advocard [28]

B. money market funds

6 0
2 years ago
Read 2 more answers
Doogan Corporation makes a product with the following standard costs:
AveGali [126]

Answer:

Direct material quantity variance= $2,170 unfavorable

Explanation:

<u>To calculate the direct material quantity variance, we need to use the following formula:</u>

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (2*5,000 - 10,310)*7

Direct material quantity variance= $2,170 unfavorable

4 0
2 years ago
asmine Smith owns a condo worth $250,000, a car valued at $15,000, and miscellaneous assets worth $7,500. She owes $190,000 on t
tester [92]

Answer:

The total liabilities amounts to $200,000

Explanation:

The total liabilities of Asmine Smith is computed as:

Total Liabilities = Owing on Condo + Owning a Car

where

Owning on Condo is $190,000

Owning a Car is $10,000

Putting the values above:

= $190,000 + $10,000

= $200,000

Note: Sum Insured under the Insurance Policy, is neither a liability nor assets. And Premium paid is an expense, will be treated as Current Assets.

4 0
3 years ago
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