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Define what is Commerce Meaning and Importance 2018

"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...

The Best Amazon Product Reviews Launched Bestvela

Shopping is not a stress-free task, more and more persons are paying keen attention to getting the best value for their money and sometimes...

8 Decoration Tips for Open Wall Shelves

You should make sure that you have some great decorating tips for when it comes to all areas of your home, especially the walls....

10 Best Examples of Accounts Receivable

Define Accounts Receivable Accounts receivable are also known as receivables  refers to short-term amounts due from buyers to a seller who have purchased goods or services...

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 [...]