Account Receivable
/ˈæk.aʊnt rɪˈsiː.və.bəl/
Definitions
- (n.) A legally recognized claim for payment owed to a business by its debtor, arising from the sale of goods or services on credit.
The company listed its accounts receivable as an asset on the balance sheet.
Forms
- account receivable
- accounts receivable
Related terms
See also
Commentary
In legal contexts, accounts receivable represent enforceable contractual obligations to pay; accurate documentation is critical for collection and financial reporting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.