BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Accounts receivable is any amount of money your customers owe you for goods or services they purchased from you in the past. This money is typically collected after a few weeks and is recorded as an asset on your company’s balance sheet. You use accounts receivable as part of accrual basis accounting.

Detailed explanation-2: -Accounts receivable or A/R is money that a company is owed by, for example, its customers. It is the balance of money that the company expects will come in for goods or services that it delivered. If your company delivers, for example, wood to customers on credit, it will get paid after a specific period.

Detailed explanation-3: -Accounts Receivable (AR) is an accounting term used to describe amounts due from customers for goods and services rendered. It is a result of the accrual method of accounting, which requires that businesses record revenue and expenses in the period they are earned, not necessarily received.

Detailed explanation-4: -Accounts receivable (AR) are the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers. Accounts receivable are listed on the balance sheet as a current asset. Any amount of money owed by customers for purchases made on credit is AR.

Detailed explanation-5: -Accounts receivable – sometimes called trade receivable – is any money that your customers or clients owe you for a service or product they bought on credit. This money can be from goods they put on their store accounts, or from any unpaid invoices for services.