Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Get quick and reliable solutions to your questions from a community of experienced professionals on our platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

accounts receivable are typically classified as current assets because:

Sagot :

Tundexi

Account receivable are classified in such way because it is expected to be paid within a year.

Accounts receivable is a term used to describe an amount of money due for payment from customer to a firm for goods or services delivered or used by them.

  • In other word, any money owed by customers for purchases made on credit, it is termed as Account receivables under balance sheet.

  • Let also understand that when there is an amount on purchase credit which went bad, such amount is treated as bad debt.

In conclusion, account receivables are considered current assets and not treated as bad debt because they can be expected to be paid within a year.

Read more on this here

brainly.com/question/24848903

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.