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Upgrade Your Assignments with Accounts Receivable Homework Answers

Accounts receivable is the outstanding cash or invoice that a business has a right to receive the goods or services provided to its client. They usually are the goods or services that are made “on account”, i.e. given on credit by a company or business with the understanding that the payment will be made at a later date which is not more than a year.

In short, accounts receivable can be termed as “money earned but not yet received”. The business has to record accounts receivable as an asset in the balance sheet as the client is obliged to pay later for the service offered. These are recorded under ‘Current Assets’ in the Balance sheet as the client is expected to make the payment within a year.

Therefore, from the above explanation we can summarize that Accounts receivable occurs:

  • When a company or business provides services/good on credit to a customer
  • No cash is received hence an Accounts receivable account is set up.
  • It is an asset as it will be converted into cash when the client pays in future.
  • There is a future payment for the service provided now.

The main reason why many finance students need help with Accounts Receivable homework answers is that they are always confused between Accounts Receivable and Accounts Payable.

Differences between Accounts Receivable and Accounts Payable

Accounts receivable are the amounts that a company has the right to receive for the goods sold or services provided. Accounts payable on the other hand refers to the amount a company owes to another because of goods purchased or services received.

  1. Accounts receivable is recorded on the Assets side of the balance sheet, whereas, Accounts payable is recorded on the Liabilities side of the balance sheet.
  2. Accounts receivable occurs on selling transactions, while Accounts payable occurs on purchasing transactions.
  3. Accounts receivable increases a company’s revenue, whereas, Accounts payable decreases a company’s revenue.

Let us take a small illustration. Suppose Company A provides goods worth $1000 on account to Company B by accepting an IOU (finance jargon for I Owe You) that B will pay after 30 days. Company A will receive the money, so it records the transaction under Accounts Receivable and since Company B owes the money, it records under Accounts Payable.

Why students seek professional help for Accounts Receivable homework answers?

In order to help students understand the various concepts of Accounts receivable, also that they are different from Accounts Payable, numerous experts are available online who can advise on Accounts Receivable homework answers with various illustrations and examples. These people are professionals with expertise and in-depth knowledge of the subject matter. They are not simply teachers, however are Chartered Accountants, Master’s Degree holders and PhDs. They excel in their respective areas and have years of practice and training.These experts know how to tackle the hardest of problems and provide solutions in such a way that you will not just be able to understand the concepts, but at the same time also solve such questions by yourself in the future.

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Benefits of getting assistance for Accounts receivable homework answers online

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What is the process of getting such online services?

The process of getting help with assignments online is very simple. There are many websites which employ experts in accounting concepts who offer support with such Accounts receivable homework answers.

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Before using any Accounts receivable homework answers services, you need to do research about the sites for genuineness and do not practice any unfair or fraudulent means. You must be sure that they provide you with unique content that has not been copied from anywhere and also deliver your assignment on time.

Many students benefit from these professional online services. With their team of skilled and educated individuals, students understand the accounting concepts better and at the same time learn new techniques that become beneficial to undertake future assignments.

I'm from Michigan, USA and working as Tutor at My Homework Help Since 2012. The teaching job is very challenging job, but I love to do. I'm helping students with their homework. If you need homework assistance, feel free to contact me!

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