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23.07.2022 - 02:37

Under what balance sheet classification does accounts receivable belong?

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Under what balance sheet classification does accounts receivable belong?

Answers (1)

Luella April 9, 2023 в 03:53

Accounts receivable is a current asset and belongs under the classification of "Accounts Receivable" on the balance sheet. This is because accounts receivable are amounts that a company expects to receive from its customers for goods or services provided within a short period of time, usually less than one year. As a current asset, accounts receivable are expected to be converted into cash within a one-year period, and therefore, are listed on the balance sheet near the top, after cash and cash equivalents.

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