3. Customer should be classified based on
the criteria established in management
Transactions sale to credit must obtain
approval from the part of the credits
based on raw procedure that has been set
In the invoice must be attached the
payment terms defined.
The accounts receivable function must
perform well based on standard
procedures that have been set
4. Billing activities should be controlled in
either by virtue of raw procedure has
been set
The cash receipt received billing based
on the results of the standard procedure
has been applied
The accounting should do a recording of
receivables based on the procedure of
raw materials which have been set
12. 2 August
5 August
6 August
9 August
10 August
11 August
Credit sales of goods “A” to Mataram Sakti Store
Rp
20.000.000
Credit sales of goods “A” to Begadan Store
Rp
60.000.000
Credit sales of goods “A” to Asia Store Rp 80.000.000
Receiption cash of payments receivable from Toko
Begadan Rp 40.000.000
Accepted payment from Mataram Store Rp 10.000.000
15 August
16 August
Acceptance cash of payment oreceivables form Asian
store Rp 40.000.000
Accepted payment from Mataram Store Rp 4.000.000
Credit sales of goods “B” to Begadan store Rp 10.000.000
18 August
Credit sales of goods “B” to Asia Begadan Rp 15.000.000
20 August
Sales return of goods “B” from Begadan Store Rp
20.000.000
Received reports from Mataram Sakti Store that there
had been a fire and PT ABC decided to abolish the
accounts receivable to Mataram Sakti Store Rp 4.000.000
21 August
27 August
29 August
There is a letter from Mataram, Mataram Sakti Store that
get compensation from the insurance company so that it
could pay off the remainder of the invoice and the
payment will be realized on August 29, 2010
Acceptance back receivable which has been removed Rp
4.000.000 from Mataram Sakti Store
PT ABC transactions
(not a taxable
entreprenuer) in August
2010 is as follows:
13. Date
2010
Description
2
August
Account Receivable
Ref
Debit (Rp)
20.000.000
Sales
5
Account Receivable
Sales
Account Receivable
Credit (Rp)
20.000.000
60.000.000
60.000.000
80.000.000
6
From the
transaction, PT
ABC will hold a
record of
journals as
follows:
Sales
9
10
11
15
Cash
Account Receivable
Cash
Account Receivable
Cash
Account Receivable
Cash
Account Receivable
Account Receivable
80.000.000
40.000.000
40.000.000
10.000.000
10.000.000
40.000.000
40.000.000
6.000.000
6.000.000
10.000.000
16
18
20
21
Sales
Account Receivable
Sales
Sales Return
Account receivable
Bad Debt Expense
Account Payable
Account Receivable
10.000.000
15.000.000
15.000.000
20.000.000
20.000.000
4.000.000
4.000.000
4.000.000
27
29
Bad Debt Expense
Cash
Account Receivable
4.000.000
4.000.000
4.000.000
14. TO OBTAIN ACCOUNTS
RECEIVABLE DATA TO
EACH RECEIVABLES
Accounts receivable
statement Letter to be
sent to the debtor
(confirmation of accounts
receivable).
list of accounts receivable
balances that contains
information about the
balance of accounts
receivable of each debtor
on a certain date.
list the age of accounts
receivable that contains
information about the
receivable debtors are
each grouped by age of
accounts receivable
19. DIRECT METHOD
INDIRECT METHOD
Loss receivables not collectible period
noted on acceptance receivables,
receivables written off based on the
number.
Loss Receivables Not collectible is recorded
in the period the accounts
receivable/Sales, based on estimates
through adjustment journal :
Bad Debt Expense
xxx
Allowance For Doubtful Debt xxx
Any deletion of accounts receivable,
directly recorded on account receivables,
with the loss of the journal:
Bad Debt Expense
xxx
Account Receivable
xxx
Any deletion of accounts receivable, is
charged to the account Receivables Loss
Reserves, with the journal:
Allowance For Doubtful Debt xxx
Account Receivable
xxx
Statement of the debtor's Ability to pay
the debts that had been wiped out: there
are no journals
Statement of the debtor's ability to pay the
debts that had been wiped out with the
journal noted:
Account Receivable
xxx
Allowance For Doubtful Debt xxx
Time of receiving payments from debtors
who declared willingness to pay, noted by
the journal:
Cash
xxx
Bad Debt Expense
xxx
If the debtor was already eliminated
coming in and directly pay the note with
the journal:
Cash
xxx
Bad Debt Expense
xxx
Time of receiving payments from debtors
who declared willingness to pay, noted by
the journal:
Cash
xxx
Account Receivable
xxx
If the debtor was already eliminated
coming in and directly pay the note with
the journal:
Cash
xxx
Allowance For Doubtful Debt
xxx
20. DETERMINATION OF LOSS ON
ACCOUNTS RECEIVABLE
Determination of the estimated losses of
accounts receivable based on the number
of Sales (approach profit-loss)
Determination of Estimated losses of
accounts receivable based on the balance
of receivables (balance sheet Approach)
Determination of the estimated losses of
accounts receivable based on the analysis
of aged accounts receivable