Question

The um of all of your cutomer Account Receivable i lited a part of _______________________ on your balance heet

Answer 1

Since accounts receivable typically convert to cash in less than a year, it is recorded on the balance sheet as a current asset.

When a consumer makes an account payment, which accounts are impacted and in what ways?

Your bookkeeper records the amount of a customer's payment on an account as a journal entry, and the transaction is referred to as "paid on account." Simply put, this indicates that the customer has paid the entire amount due and that payment has been recorded in the accounts receivable ledger.

Receivables are recorded in what way on the balance sheet?

Accounts receivable are represented on the balance sheet as a current asset since they normally convert into cash in less than a year. If the sum due only becomes cash after some more than a year, it is instead shown on the balance sheet as a long-term asset (possibly as a note receivable).

Learn more about accounts receivable ledger: https://brainly.com/question/27961526

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