Collectible amounts from customers arising from sale of goods or services on account.

• Notes Receivable

• Accounts Receivable

• Allowance for Bad Debts

• Land

An interest to be collected on promissory notes received.

• Accumulated Depreciation

• Furniture and fixtures

• Building

• Interest Receivable

Expenses that are paid in advance, but not yet incurred or have not yet expired

• Prepaid Expenses

• Accumulated Depreciation

• Cash

• Accounts Payable

Facilities used in business operations such as delivery trucks, machines, air-conditioner, computers, filing cabinets, electric fans, etc.

• Equipment

• Land

• Building

• Utilities Payable

A structure to be used for factory, store, warehouse or office of an enterprise to conduct business operations.

• Land

• Building

• Equipment

• furniture and fixtures

A piece of lot or real estate owned by the company in which a building can be constructed for business purposes.

• Building

• Land

• Equipment

• Furniture and Fixtures

This includes cash on hand, cash in bank and cash fund. Includes money substitutes (postal money money orders, bank drafts and treasury warrants)

• Notes Receivable

• Accounts Receivable

• Cash

• Taxes and Licenses

Includes chairs, carpet, tables, lamp and lighting fixtures and wall decors. Specific account titles may be used such as office furniture and fixtures and office furniture and fixtures.

• Furniture and Fixtures

• Land

• Equipment

• Building

A financial obligation that constitutes verbal agreement to pay.

• Notes Payable

• Interest Payable

• Accounts Payable

• Notes Receivable

Income received in advance, but services have not yet rendered or goods have not yet been delivered to the customer.

• Interest Income

• Service Income

• Long term Investments

• Unearned Income