Trade Receivables Flashcards
How do you determine the total risk of credit loss and the off-balance sheet risk for accounts receivable with an allowance for credit losses?
How do you calculate the ending accounts receivable balance when a portion of sales remains uncollected at month-end?
“Steps to Determine Principal Reduction and Interest Receivable for Notes with Full Payment Applied to Principal”
Rules for Calculating Total Interest Revenue on Notes Receivable with Discounts or Premiums
Rules for Calculating Allowance for Credit Losses Using the Aging of Accounts Receivable (A/R)
Rules for Factoring Accounts Receivable (With vs. Without Recourse)
How do you calculate the contingency value when discounted a note with recourse?
How much cash does a company receive from a bank after discounting a note receivable
What amount should a company report as gross accounts receivable at year-end
How to calculate the cash a company receives from factoring accounts receivable with recourse, given a holdback percentage and a factoring fee?
Under the cash basis of accounting, how should a company determine the amount of net sales revenue to report for the year
What are the rules for writing off an uncollectible account under the CECL model
How do you calculate accrued interest receivable for a note issued partway through the year?
How do you determine the amount of cash collected from customers when accounts receivable has changed?
What are the key characteristics of the direct write-off method for calculating credit loss expense?
What’s the difference between calculating cash proceeds for a noninterest-bearing note and an interest-bearing note?
How to solve a problem involving a discounted note receivable with recourse, and key details to avoid mistakes?
What are the JEs for discounting notes receivable with/without recourse?
How do you calculate interest income for a noninterest-bearing note?
How do you calculate the credit loss expense given the net realizable value, beginning allowance, write-offs, recoveries, and ending accounts receivable balance
What’s the distinction between write-offs and credit loss expense in the CECL model
What are the rules regarding the transfer of a company’s accounts receivable
What is the relationship between Credit Loss Expense and the Allowance for Credit Losses?
When should a noninterest-bearing note receivable be recorded at face value vs. present value
What are the different methods for estimating credit losses
What are the differences between the Direct Write-Off Method and the Allowance Method for credit losses?
When should a note receivable be recorded at face value versus present value?
How do you calculate the present value for notes with a low stated interest rate vs. noninterest-bearing notes
When can a note be recorded at face value without discounting or applying a premium?
When do you apply a premium on a note receivable, and how do you calculate it
When do you apply a discount on a note receivable, and how do you calculate it?
How Do You Calculate Cash Proceeds for a Partially Paid Discounted Note Receivable?
What is Pledging accounts receivable
How do you accrue interest on a short-term, interest-bearing note receivable?
How do you record a noninterest-bearing note issued in exchange for goods or services
How do you calculate the present value of remaining payments for a noninterest-bearing note with equal annual payments when one payment has already been made?
What is the journal entry for a factoring transaction where a company purchases receivables at a discount, applies an allowance for credit losses, and records a gain on purchase?
Calculating Interest on a Note with Payments Throughout the Term
Proceeds on discounted noted receivable
