On January 1, Davis College assigned $500,000 of Accounts Receivable to the Scholastic Finance Company. It gave a 14% note for $450,000 representing 90% of the assigned accounts and received proceeds of $432,000 after deduction of a Scholastic, including interest for 1 month on the remittance. By what amount will Accounts Receivable be assigned and notes payable decreased?

A/R Assigned Notes Payable

In which case would revenue be recorded?

What is the expectation of most companies and their billings?

A customer has two accounts, and mistakenly makes a payment on the wrong one.� What is the best way to handle this outside of returning the payment to the customer?

Which two key attributes of a quotation promote excellent receivable results?

On a company's Balance Sheet, A/R is the amount_________.

What data standard is competing with EDI, and what does it mean?

True or False? A postdated check can be deposited and is considered money.

What is the standard calculation for accounts receivable turnover?

How should sales staff be measured to assure their performance is high?

Company X has sales of $5,000,000 and its average balance for accounts receivable was $50,000. What is the accounts receivable turnover ratio?