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Define what is Commerce Meaning and Importance 2017

"Commerce is the activity of buying and selling of goods and services, especially on a large scale or quantity" When student gets passed his matric or...

Steps to Collect Accounts Receivable

It is essential to collect accounts receivable in a timely manner, thereby generating enough cash flow to support company operations. Rapid collection also improves the ability of a company to use its receivables as collateral for loans, since newer receivables qualify for treatment as collateral. Collecting accounts receivable is not just the task of the [...]

Allowance for Uncollectible Accounts Explained With Examples

Allowance for Uncollectible Accounts : Definition Allowance for uncollectible accounts is a contra asset account on the balance sheet representing accounts receivable the company does not expect to collect. When customers buy products on credit and then don’t pay their bills, the selling company must write-off the unpaid bill as uncollectible. Allowance for uncollectible accounts [...]

Direct Write-Off and Allowance Methods in Account Receivable

Direct Write-Off and Allowance Methods Because customers do not always keep their promises to pay, companies must provide for these uncollectible accounts in their records. Companies use two methods for handling uncollectible accounts. The direct write-off method recognizes bad accounts as an expense at the point when judged to be uncollectible and is the required [...]

How to Evaluating Accounts Receivable Method

Evaluating Accounts Receivable Business owners know that some customers who receive credit will never pay their account balances. These uncollectible accounts are also called bad debts. Companies use two methods to account for bad debts: the direct write‐off method and the allowance method. Direct write‐off method. For tax purposes, companies must use the direct write‐off [...]

How Much Does Long-Term Care Insurance Cost 2017 [Comprehensive Guide]

Long-Term Care Insurance Cost 2017 A whole bunch of shoppers name the Affiliation workplaces every year and lots of ask comparable questions: "How does Long-Term...

GST AND IMPORT/EXPORT

We are giving the brief idea in case of GST in respect of import and export of goods as under:- IMPORT AND INPUT TAX CREDITAll...

How a Bill of Exchange Work?

How a Bill Of Exchange operate first we have to read the following points:A person who wants to purchase goods but he has...