Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 11 - No. 41)
What does 'accounts receivable' represent?
Money owed by the business to its suppliers.
Cash held by the business.
Money owed to the business by its customers.
The owner's investment in the business.
Explanation
Accounts receivable represents the amounts owed to the business by its customers for goods or services already delivered.
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