on a company's balence sheet account receivable is classified under assets. Accounts Receivable is a Current Asset and usually listed below Cash and Cash Equivalents.
Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)
account payable
Sundry Debtors
an asset
on a company's balence sheet account receivable is classified under assets. Accounts Receivable is a Current Asset and usually listed below Cash and Cash Equivalents.
Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)
account payable
equity
Sundry Debtors
an asset
It is classified as Long term, if you will receive them more than a year.
the schedule of accounts receivable shows
the schedule of accounts receivable shows
the formula of calculating account receivable turnover = Net Sales/ average gross receivable
When a sale is made to a customer on credit, it creates an AR which is classified by the company as an accounts receivable.
It is basically deducting the allowance for doubtful accounts from the total accounts receivable.