Susan,who is a florist,purchases her flowers on credit.Lucy,a customer,takes eight bouquets and promises to pay Susan within two weeks.The amount that Lucy owes Susan is termed _____.

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The amount that Lucy owes Susan is called receivables, as it is an amount that Susan is entitled to receive from her customer (Lucy) within a specified period of time. Payables refer to amounts that a business owes to its suppliers or creditors, while deposits are amounts paid in advance by a customer for goods or services. Chargebacks occur when a customer disputes a charge and requests a refund from the merchant.

Susan,who Is a Florist,purchases Her Flowers on Credit