Examlex
Joseph Lister
Receivables
Debts that customers have towards a firm for items or services that have been received or employed, yet remain unpaid.
Accounts Payable
Money owed by a company to its suppliers or vendors for products or services that have been received but not yet paid for.
Cost of Goods Sold
The direct expenses related to the production of goods sold by a business, including materials and labor costs.
Receivables
Amounts payable to a corporation by its clientele for goods or services that have been delivered or rendered, but are yet to be paid for.
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