ACCOUNT NUMBER 1600, PROVISION FOR DEFERRED RECEIVABLES - 10417
Normal Balance: Credit
Purpose: This account shows the amount provided for receivables not collectible within one year and any other receivables for which a full deferral is deemed appropriate or required by law.
Subsidiaries: None
Normal Entries:
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Entry Number |
Debits |
Entry Number |
Credits |
|
7. |
Cash is received and applied to receivables which are accounted on a cash basis during the fiscal year. |
6. |
Invoices are prepared for receivables which are accounted on a cash basis during the fiscal year. |
|
8. |
Cash is applied to receivables which are accounted on a cash basis during the fiscal year. |
11. |
(Alternate entry for dishonored checks.) |
|
9. |
Accounts receivable are written off. |
A-3 |
Year-end accruals are recorded. |
|
36. |
Invoice amount of accounts receivable which were previously deferred and have now been sold. |
A-4 |
Abatement and reimbursement receivables are reclassified at the time an appropriation reverts. |
|
A-9 |
Amount required to adjust this account balance for the amount of revenue earned but not received as of June 30 for fully deferred receivables that are estimated to be collectible within the ensuing fiscal year. |
A-9R |
The amount applicable to this account in Entry A–9 is reversed and a full deferral is established for certain accrued revenue receivable. |
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|
A-10 |
Adjustment is made for checks still dishonored as of June 30 by agencies that do not adjust their accounts for each dishonored check transaction during the year. |
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A-12 |
Billed abatement, reimbursement, and nonrevenue receivables are deferred if not believed to be collectible during the coming fiscal year. |
Revisions
No Revisions for this item.