财务会计专业英语课件.ppt

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1、ACCOUNTINGFORRECEIVABLESChapter9ACCOUNTSRECEIVABLEAmountsduefromcustomersforcreditsales.Creditsalesrequire:Maintainingaseparateaccountreceivableforeachcustomer.Accountingforbaddebtsthatresultfromcreditsales.C1RECOGNIZINGACCOUNTSRECEIVABLESalesonCreditCreditsalesarerecord

2、edbyincreasing(debiting)AccountsReceivable.Acompanymustalsomaintainaseparateaccountforeachcustomerthattrackshowmuchthatcustomerpurchases,hasalreadypaid,andstillowes.C1TechComastwomajorcreditcustomers(1)CompStoreowesthecompany$2,000onaccount,and(2)RDAElectronicsowes$1,000

3、onaccountatJune30,2009.OnJuly1st,TechComsells$950ofmerchandiseonaccounttoCompStore,andcollects$720cashfromRDAasapaymentonaccount.SALESONCREDITDRCRJul1AccountsReceivable-CompStore950Sales950TorecordcreditsalestoCompStoreCash720AccountsReceivable–RDAElectronics720Torecordc

4、reditsalestoRDAElectronicsC1SALESONCREDITC1Advantagesofallowingcustomerstousecreditcards:Customers’creditisevaluatedbythecreditcardissuer.Therisksofextendingcreditaretransferredtothecreditcardissuer.Cashcollectionsarequicker.Salesincreasebyprovidingpurchaseoptionstothecu

5、stomer.CREDITCARDSALESC1Withbankcreditcards,thesellerdepositsthecreditcardsalesreceiptinthebankjustlikeitdepositsacustomer’scheck.Thebankincreasesthebalanceinthecompany’scheckingaccount.Thecompanyusuallypaysafeeof1%to5%fortheservice.CREDITCARDSALESC1OnJuly15th,TechC

6、omhas$100ofcreditcardsaleswitha4%fee,andits$96cashisreceivedimmediatelyondeposit.CREDITCARDSALESC1CREDITCARDSALESIfinsteadTechCommustremitelectronicallythecreditcardsalesreceiptstothecreditcardcompanyandwaitforthe$96cashpayment,wewillmakethefirstentryonJuly15th,andthesec

7、ondentryonJuly28th,whenthecashisreceived.C1INSTALLMENTACCOUNTSRECEIVABLEAmountsowedbycustomersfromcreditsalesforwhichpaymentisrequiredinperiodicamountsoveranextendedtimeperiod.Thecustomerisusuallychargedinterest.C1Somecustomersmaynotpaytheiraccount.Uncollectibleamountsar

8、ereferredtoasbaddebts.Therearetwomethodsofaccountingforbaddebts:DirectWrite-OffMethodAllowanceMethodVAL