How accounts receivable and accounts payable work, Accounting Basics

+44 141 628 6080
[email protected]

How accounts receivable and accounts payable work

Question: Explain how accounts receivable and accounts payable work. Why is it important to ensure that a business maintains a good payment history with its creditors? What could be one resulting consequence if a company does not maintain a good payment history with its creditors?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How accounts receivable and accounts payable work

Reference No:- TGS03417641

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Net present value is calculated how

Net present value (NPV) is calculated how? Net present value (NPV) is calculated how? By adding the present value of all cash inflows

Q : What is budgeted moh rate

Budgeted Manufacturing Overhead Budgeted Direct Labor Hours $122,000 2,500 hours, what is budgeted moh rate

Q : Discuss detail about handling supplies later

Purchased $300 of office supplies for cash. Issued a cheque in payment. (For now, when office supplies are purchased, debit Office Supplies

Q : What would your control risk assessment be

What would your Control Risk (CR) assessment be with respect to the existence assertion? Provide support for your answer.

Q : How accounts receivable and accounts payable work

Explain how accounts receivable and accounts payable work. Why is it important to ensure that a business maintains a good payment history

Q : What is the amount of compensation expense

What is the amount of compensation expense that shall be recorded for 2022?

Q : Assess an auditors performance based on the standards

Alaia is developing internal auditing procedures for her company's IT department. She discovers information from an organization that provides internal auditors

Q : What is the flow time

A manufacturing company producing medical devices reported $60,000,000 in sales over the last year. At the end of the same year,

Q : Review coca-cola company form 10-k and financial statements

Reviewing The Coca-Cola Company's Form 10-K and financial statements reveals insights into its performance.

1954942

Questions
Asked

3,689

Active Tutors

1431873

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Calculate the net present value for the project

Management requires a minimum after-tax rate of return of 8% on all investments. Calculate the Net Present Value (NPV) for this project

Compute the tax and the tax refund

Take a standard deduction, consider child tax credit, and compute their tax and the tax refund or balance due:

Compute the tax due or refund

Please use current tax rates, exemptions, and laws. Be sure to show ALL of your work so that I can give you partial credit. Use 2023 tax law.

Problem on preventive control or a detective control

Consider the following list of internal controls. For each control classify it either as a preventive control or a detective control.

Compute the tax and the tax refund or balance due

Take a standard deduction and compute their tax and the tax refund or balance due.

What is her tax liability

Determine the amount of Miranda's self-employment tax and her AGI income tax deduction. What is her tax liability and what is her agi deduction

What is platinums insurance revenue

What is Platinum's insurance revenue for the current year? $10,000,000,$ 20,000,000 .