Let’s say, on 10 th National Traders paid 50,000 to Max Enterprises. From 1 st June to the date the bill is paid, 75,000 will be treated as accounts receivables against National Traders account. On 1 st June, 2020, Max Enterprises sold goods worth 75,000 to National Traders with a credit period of 15 days.
In other words, it is the amount that your customer owes you in respect of contractual obligations.Īccounts receivables are also known as debtor, trade debtors, bills receivable or trade receivables. Accounts receivables in financial statementĪccounts receivable refers to the amount that a company is entitled to receive from its customers for goods or services sold on credit.Accounting receivables in books of account.
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