Kostner Financial Services Inc.performed accounting services for a client in December.A bill was mailed to the client on December 30.The company received a check by mail on January 5.As per the revenue recognition principle,the related account that should appear on the balance sheet as of December 31 is ________.

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The revenue recognition principle states that revenue should be recognized when it is earned, regardless of when payment is received. In this case, Kostner Financial Services performed accounting services in December, and therefore earned the revenue in December even though the payment was received in January. Accounts Receivable represents revenue that has been earned but not yet collected, making it the appropriate account to appear on the balance sheet as of December 31.