Respuesta :
Notes Receivable = debit of $10,000; Cash = credit of $10,000
How might accountants calculate the cost of uncollectible accounts for a business?
The method of evaluating uncollectible accounts that uses the revenue statement and multiplies credit sales by the percentage of uncollectible debts.
Who are a promissory note's two principal parties?
Checks involve three parties as opposed to a promissory note's two parties (the payer and the payee) (the payer, the payee, and the bank from which the funds are drawn).
What is the phrase for the anticipated net cash flow from receivables?
The net amount of cash anticipated is known as the cash (net) realizable value, which is net of amounts the company anticipates it won't be able to collect. As a result, using the allowance technique, the balance sheet receivables are decreased by the expected uncollectible receivables.
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