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account receivable |
Also found in: Legal, Financial, Encyclopedia, Wikipedia | 0.04 sec. |
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account receivable n
(Economics, Accounting & Finance / Accounting & Book-keeping) Accounting US a current asset account showing amounts payable to a firm by customers who have made purchases of goods and services on credit How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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Sometimes, as in your case, a collection agency or other firm will
purchase an account receivable (your debt) for a discount in hopes of
collecting the full amount. Jack Greenthum's account receivable of $12,000 from
Jasmine's Ground Covers qualifies as a business debt because:
It said it was reviewing the carrying value
of patents and said it might write down an account receivable carried to
reflect what the company is owed by a former officer who, the company
says, embezzled funds. |
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