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Accounts receivable

For accrual basis businesses, transactions not paid in cash create an account receivable, an unsecured promise to pay in the future The accounting entry is a debit to accounts receivable and a credit to sales On payment, the account receivable is credited and cash is debited

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  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Accounting
  • Category: Tax
  • Company:
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  • Acronym-Abbreviation:
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