ch09A - PREVIEW OF CHAPTER 9 ACCOUNTING FOR RECEIVABLES...

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Unformatted text preview: PREVIEW OF CHAPTER 9 ACCOUNTING FOR RECEIVABLES Accounts Receivable Types of Receivables Recognizing accounts receivable Valuing accounts receivable Disposing of accounts receivable Notes Receivable Determining maturity date Computing interest Recognizing notes receivable Valuing notes receivable Disposing of notes receivable receivables = amounts due from individuals and other companies; they are claims expected to be collected in cash. 1 Accounts receivable are amounts owed by customers on account . 2 Notes receivable are claims for which formal instruments of credit are issued. 3 Other receivables include nontrade receivables such as interest receivable and advances to employees. RECEIVABLES First, we’ll discuss: 1. Recognizing accounts receivable. 2. Valuing accounts receivable. 3. Disposing of accounts receivable. ACCOUNTS RECEIVABLE RECOGNIZING ACCOUNTS RECEIVABLE 1,000 1,000 RECOGNIZING ACCOUNTS RECEIVABLE 100 100 RECOGNIZING ACCOUNTS RECEIVABLE 882 18 To ensure receivables not to be overstated on the balance sheet, we state receivables at their cash realizable value...
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This note was uploaded on 05/21/2011 for the course ACY 1111 taught by Professor Km during the Spring '10 term at CUHK.

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ch09A - PREVIEW OF CHAPTER 9 ACCOUNTING FOR RECEIVABLES...

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