This preview shows page 1. Sign up to view the full content.
Unformatted text preview: h and related items. Receivables
Receivables Claims held against customers and others for money, goods, or services.
Oral promises of the purchaser to pay for goods and services sold
(NO interest). Written (formal) promises
to pay a sum of money on a specified future date.
(usually includes interest). Accounts Receivable
7-9 Notes Receivable
(N/R) LO 3 Define receivables and identify the different types of receivables. Receivables
Monies due to a company for everything BUT purchases
of their goods and services, include the following items:
7-10 Advances to officers and employees.
Advances to subsidiaries.
Deposits to cover potential damages or losses.
Deposits as a guarantee of performance or payment.
Dividends and interest receivable.
f) Insurance companies for casualties sustained.
View Full Document
This note was uploaded on 01/29/2013 for the course ACC 223 taught by Professor Staff during the Fall '12 term at Niagara University.
- Fall '12