文档介绍：9 - 1 PowerPoint Authors: Susan Coomer Galbreath, ., CPA Charles W. Caldwell, ., CMA Jon A. Booker, ., CPA, CIA Cynthia J. Rooney, ., CPA Copyright ? 2013 by The McGraw-panies, Inc. All rights reserved. Accounting for Receivables Chapter 9 9 - 2 Accounts Receivable C1 A receivable is an amount due from another party. pany must also maintain a separate account for each customer that tracks how much that customer purchases, has already paid, and still owes. This graph shows recent dollar amounts of receivables and their percent of total assets for four well- panies. 9 - 3 Sales on Credit C1 On July 1, had a credit sale of $950 to CompStore and a collection of $720 from RDA Electronics from a prior credit sale. 9 - 4 Sales on Credit C1 9 - 5 Credit Card Sales Advantages of allowing customers to use credit cards: Customers ’ credit is evaluated by the credit card issuer. Customers ’ credit is evaluated by the credit card issuer. The risks of extending credit are transferred to the credit card issuer. The risks of extending credit are transferred to the credit card issuer. Cash collections are quicker. Cash collections are quicker. Sales increase by providing purchase options to the customer. Sales increase by providing purchase options to the customer. C1 9 - 6 Credit Card Sales C1 On July 15, has $100 of credit card sales with a 4% fee, and its $96 cash is received immediately on deposit. 9 - 7 Credit Card Sales C1 If instead must remit electronically the credit card sales receipts to the credit pany and wait for the $96 cash payment, we will make the first entry on July 15, and the second entry on July 20, when the cash is received. 9 - 8 Amounts owed by customers from credit sales for Amounts owed by customers from credit sales for which payment is required in periodic amounts over which payment is required in periodic amounts over an extended time period. The customer is usually an extended time peri