Chapter_8_Notes

Chapter_8_Notes - Chapter 8 Objectives 1. Identify the...

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Chapter 8 Objectives 1. Identify the various types of receivables . 2. Learn how receivables are recognized in the accounts. 3. Understand the methods of recording Bad Debts. 4. Compute interest on Notes Receivable . 5. Record journal entries for dispositions of Notes Receivable . 6. Learn the Financial Statement presentation of Receivables. 7. Learn principles of sound accounts receivable management . 8. Identify ratios to analyze a company’s accounts receivables.
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9. Describe methods to accelerate the receipt of cash from receivables .
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Types of Receivables Accounts Receivable Amounts owed to company from the sale of goods and services on account . Usually short-term (30-60 days) Notes Receivable Claims evidences by a formal written instrument . Usually longer term than an account receivable (but not always). Usually contain an interest element. Accounts and Notes Receivable arising from Sales Activities are sometimes referred to as Trade Receivables .” Other Receivables
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Loans to Officers Advances to Employees Rents Receivable Interest receivable Mortgage Receivable
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Chapter_8_Notes - Chapter 8 Objectives 1. Identify the...

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