86 thoughts on “Accounting for beginners #9 / Accounts Receivable / Basics

  1. Do you get paid to do this? or do you just volunteer? Because that's a lot of time you consume to do all this. Not complaining at all. Just curious. Your teaching tactics are very simple and is very helpful. Please don't stop! 🙂

  2. once you get paid what happens, Do you do other entree with the cash as an asset but what would be the credit?

  3. Love what you do! Thanks to you I'm understanding Accounting much better & I'm able to take of many financial tasks for the committees I work with in Community Outreach. Thank you! I'll be sure to direct my fellow classmates & colleagues to your page.

  4. To balance this first you put A/R of $10 as an asset (in the debit side), and you say the widget $10 is a credit, but what would you put the widget under in the credit side?

  5. Thanks for the video! So, A/R is an ASSET on the debit side of the the journal, what about the "widget $10" on the credit side? Does it count as EQUITY?

  6. Will der be no impact in Revenue a/c when u get paid for ur product/services? $10 debit in A/C Receivable nd credit in Cash, wat abt d revenue generated by selling ur product?

  7. I love your videos and how you break it down. I hope you are doing well. As I have watched your videos I notice your change in your behavior. I hope all is going well.

  8. Hey man, currently I am just about to get a associate degree in business admin. and I had to take acct 1 and 2, so nothing too crazy. Kind of learning more or coming to some real understanding through your videos. Just wanted to say I am really grateful that you have and continue to take your time to make these for all of us. Thank you so much!
    -Joshua

  9. Hi, I get the point where you put the journal entry fo AR under Assets however, on the Credit side, where exactly do you put the $10 for the widget? Is it under revenue?

  10. Videos are awesome!!! Only been studying accounting for a couple of weeks but my understanding is a lot better thanks to you . Will you be posting more videos in the future? Hope so!

  11. Sometimes I wish I would have taken some Accounting classes when I earned my mathematics degree. It seams like jobs opportunities open up more with this type of degree

  12. Thank you for all the videos you have posed, the DCADELER has helped me so much.You break down a very difficult topic and make it easy to understand. I wish my accounting professor was able to make accounting so understandable. Thank you.

  13. Hey, just wanna ask like the widget account that you credited is equivalent as the inventory account right? Thanks.

  14. I honestly was doing accounting in my sleep! That DC ADE LER  was on repeat at night in my sleep and upon waking up, didn't want to get up out of bed until I finished the effin debit or credit entries. lmao great stuff! goal is to get to video 26 today.

  15. I get the fact that the money that is owed to you is an A/R and falls under the debit as an Asset but what label does it receive under the credit side? Liability, Equity, or Revenue.

  16. Is the widget another asset that is credited in your example? Reason why I ask is that I always thought the a/r credits the revenue

  17. Just a question if a company provides services for 5k and is not getting payed now how would you put it ?

    D. /C
    A.p5k. Service provided5k
    ?

  18. Please give an example where the normal balance of accounts receivable becomes credit. Or is it always on the debit side? Pls explain : (((

  19. Is it me or could this video have been 1 min explanation? All i learned is that A/R is the accounting of money owed. Four and a half minutes to explain that? Dude is funny tho

  20. I would think A/R goes up and Widget Inventory goes down; both with in the asset account. When we get paid PAID, revenue goes up (on credit side) and A/R goes down (on Debit side)..

  21. Hi , I'm a senior in high school in Texas , i am going straight to college/university after high school i want to be an accountant/get a CPA .I just wanted to say i'm inspired buy these videos , i take notes from each video and the way you explain accounting and break every down really helps and makes me catch on quick ! Thanks. #DC/ADE/LER

  22. Nice video, some knowledge being spread along with sense of humor ,really approachable. Anyways I have a question that I'd be appreciated if answered. Suppose, " I rendered a laundry service to various hotels in the city and received cash, $500 and on account, $1,500" ,the question is do I debit both $500 (cash) and $1,500 (as account receivable) on a journal? And what will be credited if that would be correct? Thank you in advance.

  23. in response below you said Credit is REVENUE. why is Credit NOT ASSET also since you gave away your ASSET (Widget)??? thanks.

  24. You actually made this enjoyable to watch. Appreciate you taking the time to make these videos. I'm currently a residential real estate appraiser. Been told my whole life I should be an accountant. Your videos are making me want to take a crack at finishing my 30 credits and taking the exam… Wish I did it straight out of college.

  25. For this entry we created a A/R asset entry (debit) and a Revenue entry (credit).
    When I get paid the journal entry would credit A/R, debit cash, but what about revenue? Or credit a/r and debit revenue only?

  26. Omg finally ACCOUNTING in ENGLISH!!!! (DC ADE LER) lmao on the “fronted” scenario HOWEVER I now have CLARITY on A/R accounts. Thank a ton.

  27. Ending is incomplete, I think it should be
    Dr A/R Cr Inventory (widget in his journal)
    when acc is paid
    Dr Revenue and Cr A/R to zero debtor

  28. You are hilarious! But definitely one of the best I've seen do videos….HANDS DOWN! You make it simple and easy!

  29. I just want to start off by saying I love your videos and I consider you as a role model. My question is where can I find practice journal entries problems so I can do the worksheet, financial statements, etc..? I am a student and on my way to being a CPA. Any suggestions would really help..Thanks

  30. Hey, Strongest CPA in Florida … Just curious, is spelling for you a debit or a credit? "Recevable", "Recivable", "Wiget" … It's a good thing you're good with numbers!

  31. I am doing my MBA in supply chain management but then I have decided to learn some basic accounts, You are the best sir. From Zimbabwe!

  32. Hi, I borrowed someone 100 to pay me back 130 by the end of the month. Is it right to say I must record the 130 under "Assets", under a subaccount "Account Receivable"? Seen that the 130 is what I have to receive from the client.

  33. Super, this is so cool, I am getting the hang of this "accounting subject" thks to u sir. So pls correct me if I am wrong. From the same example,does it mean that when the person pays bk after the 30 days I put it under Income? Sorry to bother wt so many questions

  34. In another life (or perhaps even this one) you would be a professor. Explaining everything so clearly, simply, and even with some humour. You are the man.

  35. Just noticed you got Receivables in two different spellings.. at the top its Recevable and in the middle is Recivable!! I first thought that these are new A/R terminologies! got me all working up searching for google the difference between the two! silly me! haha!

  36. I understand that the A/R is an asset and that is on the debit side but I'm still stuck on where would the widget fall under on the credit side Liability, Equity, or Revenue being that you should always have at least 1 debit and 1 credit? Thanks in advance!!!

  37. Great video! I am surprised to see TOO many folks NOT PAY ATTENTION to their DSO
    (Days Sales Outstanding). I've put together a quick 2 min video with my
    experience calculating and interpreting it.

  38. Great video! I am surprised to see TOO many folks NOT PAY ATTENTION to their DSO
    (Days Sales Outstanding). I've put together a quick 2 min video with my
    experience calculating and interpreting it.

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