_____ are amounts that customers owe the retailer for goods and services.

Question

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Accounts receivable is the amount of money owed by customers to the retailer for goods and services sold on credit. Total assets (A) include all assets owned by the retailer, not just those related to customer debt. Current assets (C) include short-term assets that can be easily converted to cash, such as inventory or cash itself. Operating expenses (D) are costs associated with running the business, such as rent or salaries. Prepaid expenses (E) are expenses paid in advance, such as insurance premiums or rent.

_____ Are Amounts That Customers Owe the Retailer for Goods