PRETTY TITLE

is a resource (properties or rights on properties) that is owned or controlled by a company that can be used to provide a future economic benefit. 

is the most liquid asset a company can own. It includes any form of currency that can be readily traded including coins, checks, money order, and bank account balances. 

Cash used to pay “petty” or small amounts 

Cash in the possession and custody of the business 

Cash that are deposited in the banks

 this refers to short-term, highly liquid investment in securities such as shares of stocks and bonds. 

is an asset that arises from selling goods or services to someone on credit or an amount collectible from a person or a company.

  Amount collectible from clients or customers for services rendered or sale of goods.

A contra-asset account the represents the estimated amount of trade receivable that are doubtful of collection. 

Represents the principal amount or the face value of the promissory note which is held by the payee.