Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 30 - No. 31)
What is the primary purpose of the 'Accounts Receivable' account?
To track cash sales.
To track money owed to the business by customers.
To track payments made to suppliers.
To track inventory levels.
Explanation
Accounts Receivable tracks amounts owed to the business by its customers (usually from credit sales).
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