Accounts Receivable job description and duties
Next, debit the accounts receivables account for the same amount. When the customer pays, debit the cash account for the amount paid....
What Is a Good Liquidity Ratio?
You may wish to create specific deadlines for payment or penalties for late payments as well as limits on balances outstanding. Another option is to reserve the right to not deliver specific services until a balance is paid. Accounts Receivable (AR) ...
What is the difference between a general ledger and a general journal?
General ledgers contain income statements in their accounting, which include entries such as interest expense, sales, salaries expense, disposal assets loss, advertising expense, rent expense among others. General ledger holds accounting information ...