At the time the Jepson Plumbing Supply prepared its financial statements, it had several customers who bought goods over the past three months on its "90 days same as cash" credit plan. These customers had not yet paid their bills, but they have good credit ratings and Jepson is confident that they will make their payments on time. The amount these credit customers owe would show up as part of the:

Question

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The credit customers who have not yet paid their bills fall under accounts receivable, which is a current asset that is expected to be collected within the next 12 months. Therefore, the amount owed by these credit customers would be included as part of the current assets listed on Jepson's balance sheet.

At the Time the Jepson Plumbing Supply Prepared Its Financial