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Accounts Receivable And Accounts Payable Are Examples Of. An example of accounts receivable includes an electric company that bills its clients after the clients received the electricity. A common example of accounts receivable is interest receivable that individuals usually get.
Is accounts receivable an asset account?
Accounts receivable is a control account that must have the same balance as the combined balance of every individual account in the accounts For example, J.
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Accounts payable are the amount the company owes to its suppliers for the goods delivered or services provided. Accounts payable are the opposite of accounts receivable. Accounts receivable are legally enforceable claims for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for.