Recording Sales on Account

Record the journal entry when goods or services are sold on credit to a customer.

Collections from Customers

Record full and partial collections from customers and calculate the remaining AR balance.

Sales Discounts

Calculate and record sales discounts — determine if the discount period has passed.

Sales Returns and Allowances

Record returns of goods from customers or price allowances using a credit memo.

AR T-Account Posting

Post AR transactions to the T-account and calculate the ending debit balance.

AR Subsidiary Ledger

Maintain individual customer balances and reconcile to the AR control account.

Aging of Accounts Receivable

Apply estimated bad-debt percentages to aged AR buckets and determine Bad Debt Expense.

Net Realizable Value

Compute the NRV of AR by subtracting the Allowance for Doubtful Accounts.

Internal Control Analysis

Spot missing AR controls in a scenario and estimate the total financial exposure.

Full AR Cycle

Process the complete AR cycle from credit sale through collection with discounts and returns.

Mixed Problems

Combined AR scenarios requiring multiple concepts in one problem.