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. PART 1 - Identifying Accounts Receivable Transactions (15 points) Identify if the following transactions will give rise to debitor credit to Accounts Receivable account
. PART 1 - Identifying Accounts Receivable Transactions (15 points) Identify if the following transactions will give rise to debitor credit to Accounts Receivable account or not. Write the word YES if it will use the Accounts Receivable account during recording in accounting books, and the word NO if not. If the answer is NO, identify what receivable account is appropriate to record the transaction. CHART OF ACCOUNTS: Cash Accounts Receivable Accounts Receivable (Credit) Due from Factor Subscription Receivable Refundable Contract Deposit Claims Receivable Advances to Employees Advances to Affiliates Notes Receivable Discounted Uneamed Sales Revenue Sales Revenue Uneamed Interest Income Interest Income Loss on Discounting of Notes Receivable Loss on Factoring Allowance for Doubtful Accounts Allowance for Sales Allowances Allowance for Sales Discount Allowance for Sales Returns . Y/N Appropriate Account No. 1. 2. 3. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14 15. TRANSACTIONS Charge sales Collection from customers Charge for goods out on consignment. Shareholders' subscription Advance collection from customers for future shipment of goods. Deposit on contract Claims against common carrier for shipping damages JOUs from employees Cash advances to affiliates Write-off of accounts receivable Provision for doubtful accounts Debit memorandum for damaged goods Allowance to customers for shipping damages Allowance to customers for payment within the discount period Allowance to customers for return of goods sold
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