What journal entry does Travis Travel Agency prepare to report the factoring of its receivables? The Travis Company uses the spreadsheet method for completing the statement of cash flows.Accounts receivable (AR) is money your customers owe you for products or services that you have sold. Find out why AR is important and how to track it. We define what intangible assets are, and explain the key differences between accounting for tangible and intangible assets. Section 1, Objective 7-1: Record sales on account, credit card sales, sales returns, sales allowances, and cash receipt transactions in a general journal. A rendition is a form that provides the appraisal district with taxable business property information. This form includes the business name and location.