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Accounting for Management
Explanations, Exercises, Problems and Calculators
Accounting for accounts receivables
Explain the gross method and net method of recording accounts receivable in the books of accounts. What entries are made under two methods?
What is an uncollectible accounts expense?
Explain the use of balance sheet approach and income statement approach for estimating uncollectible accounts expense for a certain period of time.
Explain allowance method and direct write off method of recording uncollectible accounts expense of a business.
How accounts receivable are converted into notes receivable? What are the benefits of converting accounts receivable into notes receivable?
What is meant by “factoring accounts receivable”? What journal entries are made when accounts receivable are factored?
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Recognition of accounts receivable
Uncollectible accounts receivable
Uncollectible accounts expense – allowance method
Estimating allowance for doubtful accounts by aging method
Estimating allowance for doubtful accounts using sales method
Uncollectible accounts expense – direct write-off method
Recovery of uncollectible accounts/bad debts – allowance method
Converting accounts receivable to notes receivable
Accounting for notes receivable
Factoring accounts receivable