Describe how accounts receivable arise and how they accounted for, including the use of a subsidiary ledger and an allowance account.© BrainMass Inc. brainmass.com June 3, 2020, 10:01 pm ad1c9bdddf
Accounts Receivable is recreated to keep track of the accumulated fund that the company will receive from its customer due to credit sales. The account is increased when a sales in made on customer's credit and it is decreased when customers pay their payment.
As we pointed out above, the Accounts Receivable account records the total amount of fund that the customers owe to ...
Solution gives a brief explanation of the concept of accounts recievable and how to handle them with a subsidiary ledger and allowance account.