The $315 is a debit to accounts receivable. The $120 COGS is a debit to cost of goods sold. Credit the $300 to revenue, $120 to inventory and $15 for the sales tax liability.

How to Do a Journal Entry for a Write-off of an Accounts Receivable. It's a sad but inevitable fact of business that occasionally a deadbeat customer won't pay a bill.

Here are six things you can start doing today to improve team productivity and reduce days sales outstanding (DSO) – and how accounts receivable automation software can help. 1. Evaluate your ...

Related Terms: Cash Management Accounts receivable is a term used to describe the quantity of cash, goods, or services owed to a business by its clients ...