accounts receivable

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Accounts receivable

Money owed by customers.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Accounts Receivable

1. Money that a customer owes a company for a good or service purchased on credit. Accounts receivable are current assets for a company and are expected to be paid within a short amount of time, often 10, 30, or 90 days. See also: Collection period.

2. A unit within a company's accounting department that deals with accounts receivable.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

accounts receivable

Money owed to a business by customers who have bought goods or services on credit. Accounts receivables are current assets that continually turn into cash as customers pay their bills. Also called receivables.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

accounts receivable

see DEBTORS.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
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People figured their book accounts in pounds, shillings, and pence, not in bushels, pecks, and weights.
Relying as they did on a creditor's willingness to extend credit to people who did not expressly bind themselves to repay the debt, book accounts implied a measure of trust between creditor and debtor.
Priest argues the contrary--that the "[r]elations of trust" and "community-oriented consciousness" reflected in book accounts were "a response to currency scarcity" and "represent[ed] efforts to overcome it in order to promote exchange," (37) thereby implying that the sense of community described by historians among neighbors who worshiped together every Sunday, who knew one another's affairs intimately, who supplied one another with goods and services, and whose children married one another would never have existed but for a shortage of coin or paper money.
One mark of how well written credit instruments could provide this assurance was that, unlike book accounts, they were assignable--an essential feature in a proper credit system, which requires that debts be transferable.
(44) This suggested to me that when debtors and creditors dealt with one another across greater distances, as they would in a commercializing economy, they found formal written credit instruments more suitable than book accounts for their transactions--not always, to be sure, but far more often than not.
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