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Parent-child relations can be better understood if we keep in mind that
Accounts Receivable
Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Merchandise
Goods that are bought and sold in a retail or wholesale environment.
Sales on Account
Transactions where goods or services are sold and payment is deferred, resulting in the creation of accounts receivable for the seller.
Sales on Account
Transactions where goods or services are sold and payment is deferred, leading to the creation of accounts receivable on the balance sheet.
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