Short Answer Questions 139.Describe how accounts receivable arise and how they accounted for, including the use of a subsidiary ledger and an allowance account. 140.Define a note...

Short Answer Questions

139.Describe how accounts receivable arise and how they accounted for, including the use of a subsidiary ledger and an allowance account.

140.Define a note receivable and explain how to calculate the interest due on a short-term note receivable.

141.Explain the options a company may use to convert its receivables to cash before they are due.

142.What is the accounts receivable turnover ratio? How is it calculated and how is it used to assess financial condition?