In Order to Keep Accurate Records About the Collection of Cash

question 89

True/False

In order to keep accurate records about the collection of cash for a previously written off account,collection of cash for a previously written off account,a business should re-establish the Accounts Receivable by debiting the receivable account.

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Definitions:

Debit Card

A payment card that deducts money directly from a consumer's checking account to pay for a purchase.

Hedge Fund

A Hedge Fund is a private investment fund that uses complex strategies in both domestic and international markets with the goal of generating high returns.

Nondepository Financial Institution

Financial entities that do not accept traditional deposits like a bank, but may offer other financial services such as investment, insurance, and retirement plans.

Market Order

Order that instructs the investor’s broker to obtain the best possible price.