When services are performed for which payment will be received later,accounts receivable increases.

Name: When services are performed for which payment will be received later,accounts receivable increases.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Accounts receivable represents money owed to a business by its customers for goods or services that have been provided but not yet paid for. As services are performed for which payment will be received later, the amount owed by customers increases and so does the accounts receivable balance.

When Services Are Performed for Which Payment Will Be Received