1. Please describe the difference between an accounts receivable and a notes receivable. 2. There are times...

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Accounting

1. Please describe the difference between an accounts receivableand a notes receivable.
2. There are times when businesses cannot collect the money thatis owed to them by their customers. When this happens, businessesincur an expense. There are two methods for recording uncollectiblereceivables. They are the allowance method and the direct write offmethod. Please explain the difference between these twomethods.
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Answer 1 Please describe the difference between an accounts receivable and a notes receivable Ans Notes receivable and debt claims both appear on your accounting report as resources Account receivable tracks cash youre owed yet havent gotten yet Notes receivable does as well however this class just incorporates obligations that have a promissory note appended Obligations entered as notes receivable are normally paid back over a more extended period Account Receivable Assume your firm conveys 2000 of metal rollers to a client On the off chance that theyre not paying in advance you present them See Answer

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