会计学第九章

Chapter 9
Accounting for Receivables
Conceptual Learning Objectives
C1: Describe accounts receivable and how they occur and are recorded.
C2: Describe a note receivable and the computation of its maturity date and interest. C3: Explain how receivables can be converted to cash before maturity.
On July 15, 2009, TechCom has a bank credit card sale of $100 to a customer. The bank charges a processing fee of 4%. TechCom remits the credit card sale receipts to the credit card company and waits for the payment that is received on July 20.
⑴Accounts Receivable ⑵Notes Receivable ⑶Other Receivables –interest, rent, tax refund, etc.


AR -amounts due from customers for credit sales. Credit sales require: Maintaining a separate account receivable for each customer. Accounting for bad debts that result from credit sales.
Matrix, Inc. Date PR Debit Credit Jul. 16 1,000 Jul. 31 800
Balance 1,ຫໍສະໝຸດ 00 200General Ledger
Accounts Receivable Date PR Debit Credit Balance Jul. 16 1,950 1,950 Jul. 31 1,300 650
There are two methods of accounting for bad debts:


Direct Write-Off Method （直接注销法） Allowance Method （备抵法）
7-16
P1
Direct Write-Off Method
直接注销法
To record the loss from an uncollectible account receivable when it is determined to be uncollectible.
7-5
C1
Recognizing Accounts Receivable
$43 Mil.
Abercrombie & Fitch
1.9% 8.2% 14.0% 17.0%
10.0% 15.0% 20.0% 25.0% 30.0% 35.0%
Pfizer $9.392 Mil. Callaway Golf $118 Mil. Oakley $109 Mil.
7-3
Procedural Learning Objectives
P1: Apply the direct write-off and allowance methods to account for accounts receivable. P2: Estimate uncollectibles using methods based on sales and accounts receivable.
P3: Record the receipt of a note receivable. P4: Record the honoring and dishonoring of a note and adjustments for interest.
7-4
C1
Accounts Receivable
Receivable –an mount due from another party
Balance 1,000
总分类账
General Ledger
Accounts Receivable Date PR Debit Credit Balance Jul. 16 1,950 1,950
7-8
C1
Sales on Credit
On July 31, Barton, Co. collects $500 from Webster, Co., and $800 from Matrix, Inc. on account.
7-9
C1
Sales on Credit
Accounts Receivable Ledger
Webster, Co. Date PR Debit Credit Jul. 16 950 Jul. 31 500 Balance 950 450
Schedule of Accounts Receivable Webster, Co. $ 450 Matrix, Inc. 200 Total $ 650
96
To record receipt from credit card company
7-14
C1
Installment Accounts Receivable
——分期收回应收账款
Amounts owed by customers from credit sales, for which payment is required in periodic amounts over an extended time period. Customer is usually charged interest. Current Asset –though credit periods might be of more than one year.
Jul. 16 Cash Credit Card Expense Sales
96 4 100
To record credit card sales and fees
A type of discount, deducted from sales, to get net sales
7-13
C1
Credit Card Sales
Jul. 15 Accounts Receivable - Credit Card Co. Credit Card Expense Sales
To record credit card sales and fees.
DR 96 4
CR
100 96
Jul. 20 Cash Accounts Receivable - Credit Card Co.
7-11
C1
Credit Card Sales
With bank credit cards, the seller
deposits the credit card sales receipt in the bank just like it deposits a customer’s check.
The bank increases the balance in the
company’s checking account.
The company usually pays a fee of 1%
to 5% for the service.
7-12
C1
Credit Card Sales
Sales increase by providing purchase options to the customer. Cash collections are quicker.
The risks of extending credit are transferred to the credit card issuer.
Jul. 31 Cash 500 Accounts Receivable - Webster
500
To record cash collections on account
Cash Accounts Receivable - Matrix
800 800
To record cash collections on account
Principles of Accounting
John J. Wild Ken W. Shaw Barbara Chiappetta 19th Edition
McGraw-Hill/Irwin
Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.
7-10
C1
Credit Card Sales
Pay
Third-party credit cards
Sell
Pay
Sellers
Customers’ credit is evaluated by the credit card issuer.
Buyers
Advantages of allowing customers to use credit cards:
On January 23, TechCom determines it can not collect $520 from Martin, Inc., a credit customer.