Question:

Which is u mean by term ''accounts receivable'' in accounting?

by Guest260  |  12 years, 9 month(s) ago

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Which is u mean by term ''accounts receivable'' in accounting?

 Tags: Accounting, accounts, mean, Receivable, term

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  1. Guest9060
    Any amount owed to a business as the result of a purchase of goods or services from it on a credit basis. Although the firm making the sale receives no written promise of payment, it enters the amount due as a current asset in its books. Accounts receivable constitute a major portion of the assets of many companies, and they may even be sold or pledged as collateral to obtain loans. See also account payable; factoring.

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