Furthermore, accounts receivable are a current asset, which means that the account balance is due from the debtor in one year or less.
If a company has receivables, this means it has made a sale on credit but has yet to collect the money from the purchaser.
Company A is waiting to receive the money, so it records the bill in its accounts receivable column.
Offered is a large variety of original antique hardware.
Due to age, much of the hardware has developed beautiful multi shades of patina, which is now highly desirable. hardware doesn't even compare to the original, for the most part it's light weight, crude, shiny copies that have lost most all of the finer details.
When collecting, I tried to purchase items in the best condition, with the least amount of wear, that either caught my eye or that I thought looked unusual.
Accounts receivable, or receivables, essentially represent a line of credit extended by a company and normally have terms that require payments due within a relatively short time period, ranging from a few days to a year (fiscal or calendar).
On a company's balance sheet, accounts receivable (AR) are recorded as an asset since there is a legal obligation for the customer to pay the debt.
Accounts receivable refers to the outstanding invoices a company has or the money the company is owed from its clients.
The phrase refers to accounts a business has a right to receive because it has delivered a product or service.