What are the journal entries for account receivable? Accounts Receivable is the money owed from clients for purchased goods or services on credit. For example, a sports equipment manufacturer might ship sporting goods to a retail store and allow the store 30 days for payment. As the sports equipment manufacturer waits for the payment, the payment that is expected to be received is an accounts receivable. Accounts receivable is a current asset that appears on the balance sheet because it is money that is expected to be paid to a company within a short period. Below are some common examples

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