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Account Receivable should be established

1)     Define and discuss when an Account Receivable should be established.

2)     Is a receivable an asset or a liability? Provide reasoning.

3)     What happens when a Receivable is uncollectable?

4)     What is a Note Receivable? What types of terms usually exist? How is the interest calculated?

5)     How are Receivables sold / factored? What are the advantages? What are the disadvantages? Discuss.

6)     What are some internal controls that you would expect to see around the accounts receivable process?

*Be sure to provide a complete and thorough analysis for the selected question

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