Term
| Aging of accounts receivable |
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Definition
| Estimating uncollectible accounts expense based on age classifications |
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Term
| Allowance for Uncollectible Accounts |
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Definition
| Contra asset account for Accounts Receivable |
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Term
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Definition
| Method for recording estimated uncollectible accounts expense |
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Term
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Definition
| Interest on a note deducted in advance |
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Term
| Book value of accounts receivable |
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Definition
| Difference between Accounts Receivable and Allowance for Uncollectible Accounts |
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Term
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Definition
| Person or organization to whom a liability is owed |
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Term
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Definition
| Liabilities due within a short time, usually within a year |
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Term
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Definition
| Cost of a plant asset transferred to an expense account over its useful life |
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Term
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Definition
| Method for removing uncollectible accounts from accounting records |
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Term
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Definition
| Note that is not paid when due |
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Term
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Definition
| Expected value when a plant asset is removed from use |
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Term
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Definition
| Expected duration of a plant asset's usage |
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Term
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Definition
| Revenue from selling a plant asset above its book value |
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Term
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Definition
| General ledger account for recording interest paid on a note |
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Term
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Definition
| Interest earned on a note receivable |
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Term
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Definition
| Fee charged for use of money, expressed as a percentage |
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Term
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Definition
| Note requiring payment of principal and interest on the maturity date |
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Term
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Definition
| Date on which the note is written and signed |
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Term
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Definition
| Liabilities due after one year |
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Term
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Definition
| Loss from selling a plant asset below its book value |
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Term
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Definition
| Person or business borrowing money through a promissory note |
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Term
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Definition
| Revenue should be matched with the expenses incurred in generating it |
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Term
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Definition
| Due date of a promissory note |
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Term
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Definition
| Total amount due at the maturity date of a note |
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Term
| Non-interest-bearing note |
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Definition
| Note with interest deducted in advance from the face value |
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Term
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Definition
| Promissory note issued by a business when borrowing or buying on credit |
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Term
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Definition
| Promissory note accepted by a business from a customer |
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Term
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Definition
| Person or business to whom the note amount is payable |
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Term
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Definition
| Estimating uncollectible accounts expense based on a percentage of net sales |
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Term
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Definition
| Asset used for business operations over multiple years |
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Term
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Definition
| Accounting form for recording information about each plant asset |
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Term
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Definition
| Amount being borrowed in a promissory note |
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Term
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Definition
| Cash received by the borrower, equal to face value minus bank discount |
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Term
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Definition
| Written promise to pay a specific amount at a specific time |
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Term
| Straight-line method of depreciation |
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Definition
| Method of calculating depreciation with equal annual expenses |
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Term
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Definition
| Amount of time the borrower has to repay the note |
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Term
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Definition
| Accounts Receivable that cannot be collected |
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Term
| Uncollectible Accounts Expense |
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Definition
| Expense recorded when a customer does not pay an Accounts Receivable |
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Term
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Definition
| Canceling the balance of a customer account due to non-payment |
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