Trending December 2023 # How To Delete An Outlook Account # Suggested January 2024 # Top 17 Popular

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How to Delete an Outlook Account Get rid of unwanted emails from Outlook by following our guide

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When you delete an account from Outlook, you can no longer send or receive email from that account.

Perhaps it’s been swamped with spam, has an unprofessional username, or you’ve simply decided to switch to a new email provider.

Keep in mind that removing an email account from Outlook does not deactivate the email account; however, we will assist you with the necessary steps to delete it.

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Not everyone has an Outlook email address. When you have a more professional email solution, you may feel compelled to delete your chúng tôi account.

Whatever the reason, you should understand how to close your chúng tôi email ID. We are dealing with the same subject in this article to delete an chúng tôi account.

For a long time, Microsoft’s official email platform was Hotmail. However, a few years ago, they merged all of the services and made chúng tôi the email solution, demoting Hotmail to oblivion.

The steps to delete an Outlook account are outlined below. Microsoft does not delete the account immediately but keeps it available in case you believe the deletion was a mistake. After 60 days, the account will be completely removed from their database.

How do I delete my chúng tôi account?

So, are you certain you want to close or delete your chúng tôi account? The steps you should take are as follows:

1. To begin, go to the Outlook website and sign in with your credentials. If you believe you have forgotten your password, you should use any recovery method to reset it.

Microsoft has implemented a centralized account system. You don’t have to do it separately for Microsoft because you’re already logged into your Outlook account.

2. Our next step will be to go to chúng tôi As you can see, it will not prompt you to enter your credentials again because you already did so in the first step.

3. On the Microsoft account Settings page, you will see a variety of options. Simply select Security from the drop-down menu.

5. Now, scroll down to the bottom to find the Close my account link.

Expert tip:

If you have unfinished business, deleting your account on any platform is a big deal. Therefore, ensure that you have done everything you had to with the Outlook account you want to delete.

7. If you believe you are aware of the consequences or have completed all of the steps outlined there, you can proceed to the next stage.

Microsoft will ask you to enter your password to verify your identity.

If you want to delete your Outlook account, you need to close the Microsoft account associated with it. This can be done via settings on the Microsoft website.

Microsoft will temporarily close the account if you do this. If you change your mind, you can return and reactivate your account within two months. After a few months, your account is permanently deleted and unrecoverable.

A few things to remember or do before you delete your Outlook account

Some people have complained that even after following all of the steps outlined above, their account was not completely erased.

If you encounter a similar problem, you can visit Microsoft’s hidden deletion page. Before completing the procedure, they will request the password, so make sure you have it.

We hope you now understand how to close your chúng tôi account. Obviously, the account is never deleted immediately. Instead, it is deactivated for two months, and the deletion occurs only after that time period has passed.

We’ve already written about removing a Microsoft account from your computer. If you want to do the same, you can refer to it.

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How To Delete Your Binance Account

Are you looking to delete your Binance account?

Or maybe you want to switch your cryptocurrency to another exchange.

Or maybe you don’t want to use Binance to buy/sell cryptocurrency anymore.

Either way, you can delete your Binance account for security and safety reasons.

However, deleting your Binance account is straightforward as the page is hard to navigate to.

Moreover, you might only see a “Disable” option and not a “Delete” option.

In this guide, you’ll learn how to delete your Binance account permanently if you no longer use the exchange.

How to Delete Your Binance Account

If your account does not have the “Delete this account” option, it means that you still have funds or cryptocurrency left in your account.

Before deleting your Binance account, make sure that you have no more funds or cryptocurrency in your account.

If your account does not have less than or equal to 0.001 BTC, your account’s deletion application will be rejected.

Here’s how to delete your Binance account:

Firstly, you need to go to the Binance website.

For other countries, go to the relevant Binance domain name (e.g. binance.sg).

Once you’re on the website, you need to sign in to your account.

On the menu, you’ll see your email address.

You’ll also see several tabs such as “Security”, “Identification”, “API Management”, and more.

To find the page to disable or delete your Binance account, you need to go to your security settings.

On the security page, you’ll see a checklist to increase your account security.

Under the page, you’ll see several options like 2FA (2 factor authentication), Device Management, Login Password, and more.

Scroll down to the bottom of the page until you see the “Account Activity” option,

Under the “Account Activity” option, you’ll see your last login activity.

In addition, you’ll see a “Disable account” link that is underlined.

Select “Disable account” to go to the page to disable or permanently disable your Binance account.

4. Select “Delete this account”

The first option is to disable your Binance account.

If you detect any suspicious activity in your account, you can disable it.

Disabling your account is temporary, and you’ll be able to reactivate it after two hours.

The second option is to delete your Binance account.

Deleting your account is a permanent and irreversible process.

To go to the page to delete your Binance account, select “Delete this account”.

5. Enter your email or phone number

After you’ve selected the “Delete this account” button, you’ll land on the “Delete Account Application” page.

On the page, you’ll see two tabs including “Email” and “Mobile”.

If you want to use the email address that is linked with your account, select the “Email” tab.

On the other hand, if you want to use the phone that is linked with your account, select the “mobile” tab.

If you’ve selected the “Email” tab, enter your Binance account’s email address.

After you’ve entered the email address or phone number that is linked with your account, scroll down to the bottom of the page.

Make sure to read the information on the page while you’re scrolling down.

At the bottom of the page, you’ll see a “Confirm to delete” button.

Selected “Confirm to delete” to send a request to Binance to delete your account.

After you’ve selected “Confirm to delete”, Binance will review your request and your total number of assets.

For your deletion request to be accepted, your account needs to have a total value of 0.001 BTC or lesser.

In some cases, you may be requested to submit certain documents, which may extend the review time.

During the process, do not deposit any assets in your account or you might lose them.

In addition, you will not be able to retrieve those assets.

You’ve successfully learned how to delete your Binance account!

Conclusion

Deleting your Binance account is not recommended.

If you detect suspicious activity in your account, it’s recommended that you disable it.

Disabling your account is temporary, and you’ll be able to reactivate it after 2 hours.

However, deleting your account is a permanent and irreversible process.

Hence, you should consider disabling your Binance account instead of deleting it in case you want to reactivate it.

For any other questions or issues related to deleting or disabling your Binance account, you can contact Binance support.

Alternatively, you can visit the Binance help center to get answers to your questions.

How To Delete Your Rockstar Games Account

If you no longer use your Rockstar Games/Social Club account, it’s a good idea to delete it.

Deleting your Rockstar Games account or Social Club account is complicated.

This is because you won’t be able to delete your account in your profile settings.

In your Social Club profile settings, you can change your nickname, email, password, and others.

However, there isn’t an option for you to delete your account there.

To delete your Social Club account, you need to use the method mentioned below.

In this guide, you’ll learn how to delete your Rockstar Games/Social Club account permanently.

How to delete your Rockstar Games account

To delete your Rockstar Games account, you need to submit a web ticket to delete your account and information.

You can submit a web ticket by going to the Rockstar Games Customer Support website.

Once you’re on the website, you need to sign in to your Social Club account.

Then, you’ll be able to submit a web ticket to delete your account and information.

If you don’t want to submit a web ticket, you can email Rockstar Games.

When you’re emailing Rockstar Games, make sure to use the same email address that you used to join Social Club.

That way, Rockstar Games Customer Support can verify that the account belongs to you.

Here is how to delete your Rockstar Games account:

1. Go to Rockstar Games Customer Support

The first step is to go to the Rockstar Games Customer Support website.

Firstly, go to Google and search for “Rockstar Support”.

Next, tap on the search result that says, “Rockstar Games Customer Support”.

2. Tap on “Social Club”

Once you’re on the Rockstar Games Customer Support website, you’ll land on the “What do you need help with?” page.

On the page, you’ll see a grid list of Rockstar Games and other accounts.

This includes Red Dead Redemption, Grand Theft Auto, Max Payne, and more.

Scroll down until you find the “Social Club” image.

Since you’re looking to delete your Rockstar Games/Social Club account, tap on “Social Club”.

3. Tap on “Social Club Account”

After you’ve tapped on “Social Club”, you’ll land on the Social Club support page.

On the page, you’ll see a “What do you need help with?” header with three options.

This includes “Social Club Account”, “2-Step Verification”, and “Can’t Login”.

As you need help with deleting your Social Club account, tap on “Social Club Account”.

4. Select “Delete Account and Information”

After you’ve tapped on “Social Club Account”, you’ll see multiple options.

This includes “Email Verification”, “Password reset”, “Account Linking”, and more.

At the bottom of the page, you’ll see a “Delete Account and Information” option.

Tap on “Delete Account and Information” to proceed to submit a request.

5. Tap on “sign in”

After you’ve tapped on “Delete Account and Information”, you’ll see a message.

Here’s what the message says, “In order to submit a request, please sign in or join Social Club”.

Before you can submit a request to delete your Rockstar Games/Social Club account, you need to log in to your Social Club account.

Tap on “sign in” to proceed to sign in to your Social Club account.

6. Sign in to your Social Club account

After you’ve tapped on the “sign in” link, you’ll land on the sign-in page of Social Club.

Now, you need to sign in to your Social Club account.

Firstly, enter your email address in the “Email” field.

Next, enter your password in the “Password” field and tap on “Sign in” to sign in to your Social Club account.

If you’ve previously created your Social Club account using your PSN, Xbox, Facebook, Google, or Twitter account, you need to use them to sign in instead.

7. Tap on “Submit web ticket”

After you’ve signed in to your Social Club account, you’ll see a description of what happens after your Social Club account is deleted.

Before you submit a request to delete your Social Club account, you need to agree to these terms:

Activation entitlements for games and DLC will be lost.

You won’t be able to use the activation keys and DLC linked to the deleted account on another account.

Story mode and online mode play for all games will be lost.

Stats and levels for all games will be deleted.

Your social club friends list and crew memberships will be lost.

The deletion process is final and irreversible.

After you’ve read the terms, scroll down until you see the “Submit web ticket” button.

Tap on “Submit web ticket” to request the deletion of your Social Club account.

8. Reply to Rockstar’s email

After you’ve tapped on “Submit web ticket”, you’ll receive an automated reply with instructions on how you can delete your Social Club account.

You’ll also receive the same reply by email from Rockstar Support.

Firstly, check your inbox and open the email with this subject line, “[Rockstar Support] Re: Social Club – Social Club Account Issues”.

Now, you need to reply to it with the email you used to create your Social Club account.

Do not reply to the message on the Rockstar Support website.

In addition, state that you want to delete your Social Club account as you no longer need or use it.

This is to verify that you own the Social Club account and the email address that is associated with it.

Here’s a sample reply that you can use, “Hi Rockstar Support, I own this Social Club account and I’d like to delete it. This is because I no longer use it”.

After you’ve sent the reply via email, you need to wait for a few days for Rockstar Support to process your request.

According to Rockstar Support, it may take up to 30 days for them to complete it.

Conclusion

Keep in mind that the deletion of your Rockstar Games/Social Club account is an irreversible process.

Once you’ve requested the deletion of your account, you can no longer get it back.

Hence, you need to think twice before submitting a request to Rockstar Support.

How To Delete Your Yahoo Mail Account Permanently

Among the numerous email service providers, Yahoo has been a popular choice for many users over the years. However, due to privacy concerns, shifting preferences, and the desire to simplify their digital lives, many individuals have made the decision to move away from Yahoo. If you’re thinking of taking this step, this tutorial guides you through the process of deleting your Yahoo Mail account, providing you with a step-by-step approach to removing it safely.

Good to know: you can add your Yahoo inbox to other email apps.

Things to Know Before Deleting

There are a few other things you need to know before making the plunge and deleting your Yahoo Mail account:

Yahoo promises to delete or anonymize your account data and settings across the Yahoo network. This includes data from Yahoo Mail, Yahoo Messenger, Yahoo Contacts, Business Mail services provided with an Aabaco Small Business account, My Yahoo settings, and more.

Access to any paid services with the Yahoo account will also be terminated.

Your email account name (or address) will be eligible for others to use once your account has been permanently deleted.

Once your Yahoo account is permanently deleted, people trying to contact you on your old email address will receive a delivery failure message.

Download Your Data

Before proceeding to delete your Yahoo account permanently, consider whether you want or need to retain the data stored in your inbox. If the answer is yes, you’ll have to put in a request with Yahoo to obtain the data. Once it’s ready to download, Yahoo will let you know. Follows the steps outlined below to request a data download.

Navigate to the Yahoo Privacy Dashboard in your browser.

Select the Yahoo logo and log in with the Yahoo account you wish to delete.

On the next page, you’ll need to check all the information you wish to download, including “Subscriptions and account activity,” “Your account,” “Browser data” and more.

Once you’ve made your selections, hit the “Next” button at the bottom.

Tip: check out the best free email clients for Windows.

You’ll be automatically redirected to the Yahoo Privacy Dashboard. At the top, you should see a “Download request in progress” notification. Yahoo will also send you an email letting you know that the request for data download has been registered.

Revoking Your Request

If you change your mind before 30 days have elapsed, you can go back to the Privacy Dashboard, access the “Manage your information” tab, and scroll down until you see the “Cancel the download request” button.

Alternatively, if you want to save only a handful of emails from your Yahoo inbox, you can forward them to your new email account (assuming that you’ve already set one up). Open an email in your Yahoo inbox and press the “Forward” button to send it to your new address. If you’re an Outlook user, learn how to set up automatic forwarding in the app.

Cancel Subscriptions

It should be noted that you won’t be able to close your account if you have a remaining balance on any of your Yahoo subscriptions, and it’s been less than 90 days since the end of the paid term of any canceled subscriptions.

Visit the My Subscriptions dashboard in your browser, cancel paid services and pay the account balances.

Tip: you can manage Google Tasks effectively from Gmail. Follow this guide.

Delete Your Yahoo Email Account

With all subscriptions canceled and data downloaded, you can finally proceed to delete your Yahoo inbox by following these steps:

Visit the Yahoo Delete My Account page.

On the next page, confirm once again that you want to delete your account by pressing “Yes, delete my account.”

You’ll see a message letting you know that the account has been deactivated and is scheduled for deletion. This won’t happen instantly, though, as you will have to wait at least 30 days for the process to complete.

How to Reactivate Your Yahoo Email Account

If you’ve changed your mind, and it hasn’t been more than 30 days since you submitted your request to have your Yahoo account deleted, you can reactivate it. This interval applies only to users from the United States. If you’re based in Australia, you have 90 days to reconsider, while users from Hong Kong, Taiwan, and Brazil are allowed to change their mind after 180 days.

Reactivating your account is easy to do. Visit the Yahoo Mail page and log in with your account, just as you would normally. This will effectively reactivate the account. You’ll need to verify you want to recover the account and create a new password.

FYI: you can speed up email composition by using templates. Learn how to create and use email templates in Outlook.

Frequently Asked Questions My Yahoo account is gone, but I didn’t put in the request to delete it. What happened?

You should be aware that Yahoo can automatically deactivate or delete accounts that have been sitting idle for twelve months or more. Additionally, if Yahoo finds that your account has violated its Terms of Service agreement, it may choose to terminate your account without sending a notification prior to doing so.

Is Yahoo email secure?

Privacy is one of the main reasons many people have decided to abandon Yahoo Mail for another email service. Yahoo has suffered multiple data breaches in the past, potentially compromising user information, such as addresses, passwords, and personal details. If you value your privacy and want to minimize the risk of your data being exposed or misused, deleting your Yahoo email account can be a proactive step to protecting yourself.

What are some privacy-focused email services?

After deleting your Yahoo email account, you may want to sign up with a privacy-oriented email service. Review this list of some of the most secure options.

Image credit: Flaticon. All screenshots by Alexandra Arici.

Alexandra Arici

Alexandra is passionate about mobile tech and can be often found fiddling with a smartphone from some obscure company. She kick-started her career in tech journalism in 2013, after working a few years as a middle-school teacher. Constantly driven by curiosity, Alexandra likes to know how things work and to share that knowledge with everyone.

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How To Recall An Email In Outlook (5 Simple Steps)

You just finished composing an urgent email to your colleagues, and you’re in a hurry to send it out—no time to proofread. You hit the send button. Then, immediately afterward, the realization hits: you sent your whole group information they should not see. Gulp.

What do you do? If you’re using Microsoft Outlook, and your recipients are using Outlook, and you take action quickly, you might be able to recall the message before anyone sees it.

It could be a long shot—but I’ve seen it work. Ready to try it? Read on to learn how.

Why Would I Need to Recall?

I sometimes work with sensitive information, and I have made the mistake of sending it to the wrong person. This is probably a worst-case scenario because recalling the message does not always work. You definitely should not rely on it when it comes to private data. We’ll take a look below at when recalls do and don’t work.

Here’s a doozy: if you are upset or angry with someone and, in the heat of the moment, write them a scathing, unfiltered, hurtful message—the kind that breaks relationships. This could put you in a hurt locker, whether it’s a boss, co-worker, friend, or significant other. This has happened to me—I really wish I’d had a recall button then!

Sometimes we are not paying attention to auto-fill when we address the message and discover, too late, that it went to the wrong person. I’ve gotten emails intended for someone else; it happens all the time. If you’re lucky, a recall may work and save you from your mistake.

I’m sure there are other situations I’m not thinking of, but you get the picture. It’s easy to send out a mail that you wish you hadn’t sent. Let’s take a look at how to recall emails within the Microsoft Outlook application.

Steps to Recall an Email

The following steps will allow you to attempt to recall an email in Outlook. Remember that time is a critical factor. You must do this before the person opens it! There are also other factors beyond your control that may cause the process to fail. You can read more about those in the next section.

Here’s what to do:

1. Select The Sent Items Folder

In the navigation or folder pane on the left side of Outlook, select the “Sent Items” folder.

2. Find The Sent Message

3. Select Action to Recall

In the window, select the “Message” tab. Then, from the “Move” section, select “More Move Actions.”

Now select “Recall this message.”

4. Select Options

You will need to decide if you want to “Delete unread copies of the message” or “Delete unread copies and replace with a new message.” You can also choose to receive a message letting you know if the recall is successful. Check the box if you would like to receive the confirmation. This is recommended since it may be the only way you know if it works.

5. Look For Confirmation

Assuming you signed up for the notification, you’ll see a message letting you know what happened. It will tell you who the original email was sent to, its subject, and the time it was sent. You’ll see if the recall was successful, along with the date and time of the recall.

What You Need for Recall to Work

So, if the stars are aligned, does recalling an email work? To be honest, it’s a crapshoot. That said, it is possible, so let’s take a look at what needs to happen for an email recall to be successful.

Outlook App

The first requirement is that you must be using the Microsoft Outlook desktop application. You won’t be able to recall from Microsoft’s web interface.

Microsoft Exchange

You must be using a Microsoft Exchange mail system. You, and the recipient, must be on the same exchange server. If it’s a work situation, there’s a chance you’ll be on the same Exchange server as your co-workers. That means it might work for them, but not with anyone outside your company.

Opened Messages

The recall will only work if the recipient has not yet opened the email. Once they open it, then it’s too late. It’s been downloaded onto their local inbox.

Configured To Ignore The Request

Outlook can be configured so that messages cannot be recalled from your inbox. If that’s the case for your recipient, your recall will not work.

Redirected Mail

If the person you are emailing has rules set up to move messages into other folders, and those rules include your message, the recall will not work. It only works when the message has been unread and remains in the person’s inbox.

Prevent Sending Email That Needs to Be Recalled

As we have seen, an Outlook message can be taken back, but there is a good chance that the recall will fail. The best way to deal with regrettable emails is to not send them in the first place. It sounds simple, but I know that it’s not. In reality, it happens to all of us, but there are some things we can do to prevent sending them.

The following method may sound strange, but it’s helpful: you can configure Outlook to have a delay before it sends the email. That means when you hit the send button, the message remains in your outbox for a set time before sending it. That gives you a chance to delete/cancel emails before they’re actually sent. For instructions on how to do that, take a look at this article from Microsoft.

In my opinion, the best thing to do is thoroughly review or proofread what you have written before sending it. I know that sometimes we are in a hurry, but self proofreading will catch 95% of your mistakes. If you’re not good at proofreading, try a grammar checker such as Grammarly, which can be used to review your text in Outlook.

Rereading your email multiple times can prevent many problems. It ensures you know what you’re sending out. Don’t forget to review the recipient list (even the CC list) and the subject, as this is where any problems often occur.

As for the nasty email that you regret sending to your co-worker, that can be a little different. I have found that the best thing to do for this is to first write up the message. Don’t address it to anyone yet, as you don’t want to send it accidentally.

Once you have written it up, reread it. Then step away from your computer or at least from Outlook. Come back to it about 15 to 20 minutes later and reread it. Are you happy with what you said? Is that how you want to communicate to the person?

Stepping away gives you a chance to prevent that heat-of-the-moment reaction to where you say things you regret. This will also allow you to revise the text if you can think of a calmer way to explain your issue.

If you feel your message is too harsh or not appropriate, then you can always delete it and write a new one later. If you are truly ready to send it, fill in the “To” field with the recipient’s name and send it off. This process at least gives you a chance to cool down and ensure you are making a rational decision.

Final Words

If you’re in a bind because of an email you regret sending, it’s possible that Outlook’s recall feature can help you remove the email before the recipients read it.

This feature is definitely not something you should rely on. Many variables go into making it work. Chances are the person will read it before you can send the recall request.

The best practice is to take your time, proofread your emails, and try not to send out reactive messages that you have not spent time thinking about. In other words, prevention is the best remedy for regretful emails.

Is Account Receivable An Asset Or Liability

Definition of Is Account Receivable an Asset or Liability

Accounts receivable can be defined as an economic resource or asset owned by an entity that represents the value of money due to it against the supply of goods or the rendering of services on credit or as a result of any other such event or transaction which will be converted into cash in the near future as per the agreed terms and conditions. In this topic, we are going to discuss Is Account Receivable an Asset or Liability.

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Explanation

When an organization sells goods or services on credit to its customers/ clients, the value at which the sale transaction was entered, which needs to be recovered from a customer, is known as accounts receivable. Accounts Receivable are also known as debtors and are usually reported on the current asset side of the balance sheet. However, depending on agreed terms and conditions, account receivables may be disclosed under non-current assets. ARs are converted into cash as per the agreed time interval, usually within one year, and hence are recorded on the asset side of a balance sheet as current assets. Suppose the amount is not recovered within one year; it gets treated as long term assets. There are entities engaged in factoring, which purchases and sales accounts receivable of another entity. Sometimes due to varied reasons, debtors may not get realized in cash. In such a case, it needs to be transferred to the bad debts loss account and written off in P&L A/c as a loss.

Why Is Account Receivable an Asset or Liability

Accounts receivable is an asset, not a liability. This gets implied from its nomenclature itself as there is something that the entity will receive in the future. Any resources capable of generating future economic benefits will be recognized as an asset. Accounts receivable is an entity accrued against the sale value of goods/services. Account receivable is the sale proceeds done for the credit sales of a company. In other words, the amount a seller owes its customers is known as account receivable. It is an asset that will be converted into cash after a specified period of time. These are the amount which has been billed but has not been realized into cash and becomes current assets. When the money is received from a customer, the accounts receivables balance gets converted into cash. Accounts receivable works only with the accrual basis accounting system; the transaction is recorded only when cash is received. While following the principle of conservatism, every organization identifies certain accounts receivable that will not be realized.

Such assets are known as bad debts, i.e., lost assets. Every organization, either as a percentage or by any other suitable working, identifies such debtors and charges them as a loss in Profit and Loss A/c. As of the date of sale, there exists a 100% probability of realization, i.e., future economic benefits will flow into the entity, and Accounts receivable get recorded as an asset. Liability denotes any amount that needs to be disbursed in the future due to past commitments or any event or transaction that will result in cash outflow. Since there is no possibility of cash outflow in the case of accounts receivable, it does not fall within the definition of a liability and, therefore, is not recorded as a liability but as an asset that will get converted into cash in the future, thereby generating future economic benefits.

Examples of Account Receivable Asset or Liability

Following are the examples are given below:

Example #1

Marc. Inc. purchased goods worth $20,000. Marc. Inc. further processed goods by adding $10,000 to their value. It sold these goods to Henry Inc. for $50,000 and incurred $1000 as selling expenses. You are required to identify and record the value of accounts receivable.

Solution:

We are asked questions to determine and record the value of accounts receivable. Accounts receivable have nothing to do with any expense incurred before the sale; hence, all such expenses as purchases cost of $40,000 and further additional costs of $10,000 will be ignored. Also, expenses incurred for selling any product are a part of the cost. This will not be reduced from the accounts receivable value.

Therefore, the Accounts receivable in this question is $50,000, representing the sale price of goods.

Example #2

Total Goods Procured during the year 2023 – $10,00,000

Opening Stock as on 1st Jan,2023 – $2,00,000

Closing Stock as on 31st Dec,2023 – $4,00,000

The markup on cost is 20% of the cost

80% of sales are on credit.

$8,000 of debtors cannot be realized as on 31/12/2023

Solution:

Goods Sold = Opening Stock + Purchases – Closing Stock

Goods Sold = 2,00,000 + 10,00,000 – 4,00,000

Goods Sold = 8,00,000

Sales Price 800000 + 20% of 8,00,000

= 9,60,000

Cash sales (20%) 192000

Bad debts 8000

Net Accounts receivable as on 31/12/2023

7,60,000

Recording Accounts Receivable on Balance Sheet

Accounts receivable, being an asset in nature, are reported and disclosed on the asset side of the balance sheet under the current ass. This is normally realized within twelve months from the sales or balance sheet date. However, it may happen in some cases that account receivable get disclosed under the non-current asset because it will get realized or converted into cash after twelve months from the balance sheet date. There is one more concept to be discussed in this part. Many organizations create a provision for the non-realization of certain debtors based on experience. This provision is known as a provision for bad debts. Nature being provision, it will always have a credit balance, and therefore while preparing a balance sheet, it will be disclosed as a reduction from the gross debtors or gross Accounts receivable.

Conclusion

Accounts receivable can be defined as an asset generated as a form of sale of goods or against any service on credit whereby payment is not immediately processed by the goods/ service recipient. As this is a certainty of realization on the date of sale, it gets recorded in books of accounts as an asset as it can generate future economic benefits for the entity.