accounts receivable
accounts receivable
accounts receivable
English Definitions:
accounts receivable (noun)
a creditor's accounts of money owed to him; normally arise from the sale of products or services
accounts receivable (Noun)
The total monetary amount owed to a financial entity due to debts arising from sales on credit or on account.
Accounts receivable
Accounts receivable is money owed to a business by its clients and shown on its balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes.
Accounts receivable
Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes.
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"accounts receivable." Kamus.net. STANDS4 LLC, 2024. Web. 13 Oct. 2024. <https://www.kamus.net/english/accounts+receivable>.
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