About This Course

In this course, we will discuss bad debt and valuing of accounts receivable using two methods, the allowance method and the direct write off method. The accounts receivable account represents money owed to the company but there will be times when the company cannot collect on the account receivables. 

Under the direct write off method, we write off the accounts receivable as we determine they are not collectible. The direct write off method does not do a good job of representing the accounts receivable account’s true value and does not do a good job of conforming to the matching principle, matching up expenses with the related revenue it was used to generate. 

The allowance method does a better job of valuing accounts receivable and conforming to the matching principle and is the method preferred. The allowance method is more complex, however, and requires the use of estimates. 

We will also discuss notes receivable, the journal entry for recording notes receivable, and for receiving payment on a note receivable. We will cover detailed methods for calculating simple interest. 

Who this course is for:

  • Accounting students
  • Business owner
  • Anyone who wants to learn accounting

Our Promise to You

By the end of this course, you will have learned accounting for receivables.

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Get started today and learn more about the accounting for receivables using the allowance method.

Course Curriculum

Section 1 - Introduction
Receivables Course Overview 00:00:00
Receivables Introduction 00:00:00
Section 2 - Accounts Receivable Journal Entries
Accounts Receivable Journal Entries Overview 00:00:00
Accounts Receivable Journal Entries 00:00:00
Debits And Credits Accounts Receivable 00:00:00
General Ledger Accounts Receivable 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Section 3 - Accounts Receivable Subsidiary Ledger
Accounts Receivable Subsidiary Ledger Overview 00:00:00
Accounts Receivable Subsidiary Ledger Explained 00:00:00
Accounts Receivable Subsidiary Ledger – Part One 00:00:00
Accounts Receivable Subsidiary Ledger – Part Two 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Discussion Question 00:00:00
Section 4 - Direct Write Off Method
Direct Write Off Method Overview 00:00:00
Direct Write Off Method 00:00:00
Worksheet Direct Write Off Method 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Discussion Question 00:00:00
Section 5 - Allowance Method
Allowance Method Overview 00:00:00
Allowance Method Accounts Receivable 00:00:00
Allowance Method – Part One 00:00:00
Allowance Method – Part Two 00:00:00
Allowance Method – Part Three 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Discussion Question 00:00:00
Section 6 - Allowance Method Compared To The Direct Write Off Method
Allowance Method Compared To The Direct Write Off Method Overview 00:00:00
Allowance Method Compared vs Direct Write Off Method 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Discussion Question 00:00:00
Section 7 - Allowance For Doubtful Accounts Calculation
Allowance For Doubtful Accounts Calculation Overview 00:00:00
Allowance Method Accounts Receivable vs Sales Method 00:00:00
AR Method – Allowance For Doubtful Accounts 00:00:00
Fifty Percent Of Sales Method – Allowance For Doubtful Accounts 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Test Questions – Accounts Receivable Direct Write Off 00:00:00
Discussion Question 00:00:00
Section 8 - Notes Receivables
Notes Receivables Overview 00:00:00
Notes Receivable 00:00:00
Interest Calculations 00:00:00
Worksheet – Simple Interest 00:00:00
Note Receivable Example 00:00:00
Worksheet One – Notes Receivable 00:00:00
Worksheet Two – Notes Receivable 00:00:00
Multiple Choice Questions – Accounts Receivable 00:00:00
Test Questions – Accounts Receivable Direct Allowance 00:00:00
Discussion Question 00:00:00
Section 9 - Comprehensive Problem
Comprehensive Problem Overview 00:00:00
Comprehensive Problem Special Journals – Part One 00:00:00
Comprehensive Problem Special Journals – Part Two 00:00:00
Comprehensive Problem Special Journals – Part Three 00:00:00
Comprehensive Problem Special Journals – Part Four 00:00:00
Comprehensive Problem Special Journals Part Five – Adjusting Entries 00:00:00
Comprehensive Problem Special Journals Part Six – Financial Statements 00:00:00
Comprehensive Problem Special Journals – Part Seven – Closing Process 00:00:00
Downloadable Materials – Receivables 00:00:00
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