This includes cash (any money in bank accounts), accounts receivable (money owed to you), office supplies, and anything expected to be received or used up within a year.
Asset accounts, which are debit accounts, include cash, accounts receivable (money owed by others for goods sold on credit), inventory, prepaid expenses, plants and equipments, office supplies, and investments.
That asset, called membership commission advance receivables, represented money that the company had paid to its sales representatives but that they had not yet earned.
In each case, a special-purpose entity was created, legally distinct from the parent, to buy the troubled company's accounts receivable -- money it expected to receive from its customers -- and to borrow from banks, using those promised revenues as collateral.
The inquiry focuses on accounts receivable -- money owed but not collected -- which is recorded as an asset on the balance sheet.
A loan receivable is money the company lent someone, usually a business partner.
This is "accounts receivable," or "A/R," because you can count on receiving the money.
Accounts receivable is the money the company's owed for work they did but haven't been paid for yet.
Found just under the "cash and equivalents" line on the balance sheet, accounts receivable refers to money owed a business for goods or services already provided.
