Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 8 - Reporting and Analyzing Receivables - Questions: 2

Answer

Receivables are the claims to be collected in the future from the customers or borrower. Common types of receivables other than notes receivables and accounts receivables are called non Non-trade receivables.

Work Step by Step

Common types or receivables other than notes receivables are as follows: 1. interest receivables; 2. loan to company officers; 3. advances to employees; 4. income tax refundable.
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