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Accounting for Merchandising Activities
Debits and Credits (Double Entry Accounting)
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Complex Debt & Equity Instruments
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Accounts Receivable

Amounts due from customers for sales on credit. Accounts Receivable is a current asset account and is listed on the Balance sheet as an Asset account because it is money the company expects to collect from its customers. Accounts Receivable is usually broken down to 1-30 days, 31 - 60 days, 61-90 days and 90+ days. The longer an account is outstanding, the more difficult it would become to collect such an account.

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