What are amounts owed to the firm by customers who bought goods and services on credit?
A) notes payable
B) owners' equity
C) marketable receivables
D) accounts receivable

Question

Quizplus · Accepted Answer

Amounts owed to the firm by customers who bought goods and services on credit are called accounts receivable. Notes payable refers to amounts owed by the firm to creditors, while owners' equity represents the portion of the company that is owned by its shareholders. Marketable receivables are accounts receivable that have been sold to a third-party buyer.

What Are Amounts Owed to the Firm by Customers Who