Debts owed to your company, usually from sales on credit. Accounts receivable is a business asset, the sum of the money owed to you by customers who haven’t paid. The standard procedure in business-to-business sales is that when goods or services are delivered the come with an invoice, which is to be paid later. Business customers expect to be invoiced and to pay later. The money involved goes onto the seller’s books as accounts receivable, and onto the buyer’s books as accounts payable.
What is Accounts Receivable (AR)? | Bplans. (n.d.). Retrieved from http://articles.bplans.com/what-is-accounts-receivable-ar/
Account Receivable [A/R]
Merriam-Webster Online Dictionary
account receivable (noun) a balance due from a debtor on a current account
Debt Collection News
Preliminary Fourth Quarter and Fiscal Year 2022 Financial Results from Juniper Networks
February 5, 2023... and 65 days in the third quarter of 2022, the number of days sales outstanding in accounts receivable was 76 in the fourth quarter of 2022.
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The probability of collecting an account 61+ days past-due is only 60%
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