Accounting: assets

Cash

#1 asset

Allowance for uncollectible accounts

Asset used to estimate how much is expected not to get back

Merchandise inventory

How much merchandise you have in stock

Asset accounts begin with

Number one

Prepaid insurance

Pay before you use it

Accounts receivable

Person who owes company money

Petty cash

Small amount of cash on hand for small expenses

Supplies

Something that will need to be replaced

Asset

Something you own or things of value