The asset that results when a customer buys goods or services on credit is
A) notes receivable.
B) accounts payable.
C) Cash.
D) accounts receivable.

Name: The asset that results when a customer buys goods or services on credit is A) notes receivable. B) accounts payable. C) Cash. D) accounts receivable.
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Question

Quizplus · Accepted Answer

When a customer buys goods or services on credit, the seller records this transaction as an accounts receivable, which is an asset representing the amount of money owed by the customer to the seller.

The Asset That Results When a Customer Buys Goods or Services