Accounts Receivable Which Are Also Referred to as ______________ Receivables

question 196

Short Answer

Accounts receivable which are also referred to as ______________ receivables are amounts owed by customers on account.

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Definitions:

Compounded Annually

A method of calculating interest where the amount earned is added to the principal at the end of each year, so that the interest for the next year is calculated on the increased principal.

Interest

The charge for borrowing money or the return on investment for funds on deposit, expressed as a percentage of the principal.

Withdrawals

The act of taking out funds from an account, trust, or deposit.

Interest Rate

The amount charged by a lender to a borrower for the use of assets, usually expressed as a percentage of the principal.