An acceptance is a receivable from the sale of merchandise on the basis of a draft or bill of exchange drawn against the buyer or the buyer's bank.

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An acceptance is a type of bill of exchange, which is a written order from the seller to the buyer to pay a certain amount of money on a specific future date. When the buyer accepts the bill, they become legally obligated to pay the amount specified. The acceptance itself becomes a receivable for the seller, representing the amount owed by the buyer.

An Acceptance Is a Receivable from the Sale of Merchandise