What are credit terms?

Q: How Interest, Principal, and Loan Balance Illustrated?

A: Answer: Interest is measured as a percentage of a loan balance, annually paid to the lender for the…

Q: What are the types of accounts receivable?

A: Account receivable is an asset account that represent amount due to the company from debtors…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: Why is it important to set a credit limit?

A: Solution:- Given, Credit Limit :- The term credit limit refers to the maximum amount of credit a…

Q: What would the credit terms of “2/10, n/EOM” mean?

A:

Q: What are the advantages and disadvantages of using a credit card?

A: There are various advantages when using a credit card as a method for purchasing goods. Following…

Q: What is the difference between Notes Payable and Accounts Payable?

A: Introduction: Accounts payable  is an account within the general ledger that represents a company's…

Q: Using the following transactions what is the total debits and credits?

A: Journal entries refer to recording and classyfing business transactions into books of accounts…

Q: What is the difference between your credit report and your credit score? What is a good credit…

A: Introduction to Credit report A credit report is prepared by a credit bureau and is a breakdown of a…

Q: What is accounts receivable management?

A: Accounts receivable management is method for ensuring that whether the customers are paying their…

Q: When does Accounts receivable are created?

A: Current assets: The assets which could be converted into cash within one year like accounts…

Q: Are drawing a credit or debit

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Define Receivable Management and Credit Policies

A: Receivable Management : managing the outstanding   Credit Policies  : Selling on credit to parties…

Q: What are some of the assets and liabilities associated with credit cards?

A: Introduction: A credit card can be defined as a small piece of card which is offered by banks or any…

Q: nd de

A: The terms debit (DR) and credit (CR) have Latin roots: debit comes from the word debitum, meaning…

Q: What are the four elements of a credit policy? Briefly explain.

A: Following are the four elements of a credit policy: Credit standards: Consider potential clients by…

Q: what is debit and credit?

A: Debits and credits seem to be a bookkeeping notation framework that determines how and where every…

Q: the rules of debit and credit

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: How are credit balances in accounts receivable reported on the financial statements?

A: Sales is the revenue being earned by the business on delivery of goods and services by the business.…

Q: In your own definition what is credit and what is collection

A: The businesses tend to conduct their operations not only on a cash basis but also on a credit basis.…

Q: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

Q: Define credit period

A: The purchase and sales transactions are in the form of cash or credit. If the payment is made at the…

Q: types of credit extension? which one is the biggest?

A: Different types of credit extensions are a) Personal loans-granted to individuals on the basis of…

Q: Hi why is the net income on the credit side and not debit?

A: Net Income - Net Income is the result of the revenue over expense incurred by the company. It will…

Q: what are the principal types of credit scoring models.

A: Credit score is referred as a number range from 300 to 850 which determines the creditworthiness of…

Q: what is accounts payable?

A: What is accounts payable?

Q: What are the five Cs of credit? How do these serve as a yardstick for creditevaluation?

A: The “5 Cs of credit” is a system used to estimate the creditworthiness of the borrowers. The 5 Cs…

Q: What are the 5 C’s of credit?

A: The 5 C's of credit is used by rhe lender to measure the credit worthiness of potential borrowers.

Q: What is line of credit?

A: Introduction: Usually, the word loan refers to a form of credit facility where a certain amount of…

Q: What is the basic information to recognize an account receivable?

A: Account receivable is a customer who has purchased the goods or has availed the services of a…

Q: What is meant by the term notes payable?

A: Notes payable is an account that details the specifics of a borrowed amount in note form. Its a…

Q: What is a credit memo? When is it used?

A: Credit memo also known as credit memorandum or credit note  Credit memo is issued by the seller of…

Q: What is Accrued receivables?

A: Accruals:Accruals are the revenues that are earned but not received, and expenses that are incurred…

Q: What is the process of Borrowing with Credit Cards?

A: The credit card is a vital instrument to upsurge the buying power. The credit card facility aids to…

Q: how do debits and credits work?

A: Debit and Credits: Debit and Credits are used as a basis of bookkeeping to book balance in the books…

Q: What is a credit note

A: Step 1 Credit note as the name depicts it generates some beneficiary status to some third party.

Q: WHAT IS THE LOAN FACILITY THAT WILL BE USED TO COVER THE DEPOSIT AND CLOSING COST

A: Credit facility Meaning: Credit facility is type of loan that is made business and corporate…

Q: Internal sources of credit information t

A: Second option is wrong because financial statements are published and can be used as an external…