can you please explain the difference between Accounts Receivable, Notes Receivable and accepting Credit Cards and pros and cons of

Q: In quickbooks, Describe the steps used to record an automatic loan payment that appears on a bank…

A: QuickBooks is an accounting software developed to record and manage the loan account, loan payments,…

Q: Define the following using your own words and give examples To credit Debit Credit

A: Introduction:- Debit column is on the left and the credit column is on the right. Every transaction…

Q: Identify which one of the following is a document issued by an individual to his or her bank,…

A: Instrument issued by the pay for operating the payment and receiving settlement. There are many…

Q: What are some common types of receivables other than accounts receivable and notes receivable?

A: Receivables are the amount due to be received in future such as accounts receivable, notes…

Q: Sales to customers who use bank credit cards such as MasterCard and VISA are usually recorded by a…

A: Sales: It is an activity involved in selling goods or services.

Q: do we need to check   the credit worthiness of credit customers before granting their credit…

A: Giving credit to the business and customers is main earning sources for banks but they need to take…

Q: All of the following are fees for using a credit card except

A: In the given problem we need to identify the fee which is not charged by the Credit Card Companies.

Q: Which is better to have? Accounts receivable or notes receivable? And why?

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: accounts receivable,

A: Account receivable :- When Company Goods sold or tendered service on Credit to customer and Company…

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: What is the difference between a credit card and a debit card? O A credit card is loaned money, plus…

A: Debit card is the facility given by the banks to their customers so that they can withdraw cash from…

Q: What is the nature of a “discount” on notes payable?

A: A discount on Notes payable is a contra liability account to the Notes payable account. When the…

Q: Bank loans often are arranged under existing lines of credit. What is a line of credit? How does a…

A:

Q: 3. Should a note receivable from a related party be included in the balance sheet with notes…

A: Balance sheet:   Balance sheet is a summary of assets, liabilities, and equity account that reports…

Q: Which of the following is considered receivables? (select all that applies)  rents   note payables…

A: Receivables are the amounts that are expected to be received by an entity either at present day or…

Q: rms: credit transfer, dishonoured cheque, standing order and give examples, the purposes, advantage

A: Credit transfer can refer to: The transfer of money from one account to another, also called a wire…

Q: What are two methods of recording accounts receivabletransactions when a cash discount situation is…

A: The accounts receivables are part of the current assets of the company. The accounts receivables…

Q: ______best describes the classification and normal balance of the accounts receivable account?

A: The Answer :

Q: What is a receivable?  List two types of receivables and their definitions.

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: Briefly explain the methods used for valuing accounts receivables.

A: In the given question, we need to briefly explain the methods used for valuing accounts receivables.…

Q: how can using a mix of Accounts Receivable, Notes Receivable and accepting Credit Cards can benefit…

A: Answer: Accounts receivables, notes receivables and accepting credit cards are three different modes…

Q: A credit report keeps track of money you borrow from banks, credit card companies, and other…

A: Loan means the amount taken from another person to be repaid back with interest.

Q: What internal controls would you implement to help maintain control of your credit sales and…

A:

Q: Why might a business prefer a note receivable to an account receivable?

A: An account receivable is a simple promise to repay the seller done by customer which is due as a…

Q: What is the adjusting entry of Bank Reconciliation : Credit Memo- Proceed Bank Loan

A: Credit memo - proceed bank loan : A bank's credit memo is defined as the item where the bank account…

Q: The fee charged for using a credit card is called O APR O Interest O late fee O credit rating

A: Credit cards are provided by banks if customer is willing to take if he/she has an account with the…

Q: Making sales using credit cards is a way a company can dispose its receivables. O True O False

A: Credit Card Sales are those sales wherein the amount is received directly by the vendor on the date…

Q: Write the difference between accounts receivable and notes receivable.

A: Accounts Receivables:-It is the payment which the company receives from its debtors for the purchase…

Q: How is a line of credit issued by a bank similar to a credit card?

A: Line of credit is the amount that bank or any other financial institution has allowed to lend to the…

Q: What are two common methods used when accepting deposits for credit card and debit card…

A: Two common methods for deposits of proceeds from credit card sales are: Gross method Net method

Q: What are the three classifications of receivables? Which does your company have? Look in the notes…

A: Accounts Receivables: Accounting for accounts receivable (AR) is the amount of money owed to a…

Q: What kinds  of fees and penalties can be levied on savings accounts?

A: Bank: It is a financial institution that accept deposits from and provide loan to public. This…

Q: Discuss the different types of banks deposits in respect to features, interest, cost, withdrawals,…

A: The question is based on the concept of different accounts offered by a bank. Bank accepts deposits…

Q: What are credit memos and discuss the treatment in the preparation of bank reconciliation.

A: Bank reconciliation statement is a statement in which closing balances of bank & cash book(bank…

Q: What is the process of Borrowing with Credit Cards?

A: The credit card is a vital instrument to upsurge the buying power. The credit card facility aids to…

Q: List some common examples of other receivables, besides accounts receivable and notes receivable.

A: Accounting for Receivables:   Receivables are defined as the amounts that are due to a firm by its…

Q: How to entre a credit cards

A: How to entre a credit cards

Q: Describe methods of calculating Interests on Your Credit Cards?

A: A card that is generally issued by the banks that helps the person to borrow the money up to the…