In his letter, Mr. Corwick said Jersey City had accumulated more than $20 million in receivables -- amounts the city had anticipated getting but not yet received -- that it might never collect.
The price consists of $228 million cash and $17 million in accounts receivable, the amount owed to a business for products that have been purchased.
Other popular column headings include name, address, description, cost, amount payable and amount receivable.
The former include cash, amounts receivable from customers, inventories, and other assets that are expected to be consumed or can be readily converted into cash during the next operating cycle (production, sale, and collection).
She said her father used to get a full audit — the union would check his payables and receivables, ensuring that the union factories received the required amounts.
Because of an existing agreement, investors had to be paid immediately if the expected credit card receivables fell below certain amounts.
Credit card receivables, or the amount people owed on their credit cards, swelled to $5.2 billion at the end of the quarter, from $2.9 billion a year ago, as the company expanded its Target-branded Visa card.
Payable and Receivable Accounts.
In the example above, the farmer debits Contract Receivable for $12,000 to recognize the amount of money collectible at the forward rate.
So the credit sales can be calculated as (cash received - initial accounts receivable + ending accounts receivable).
