Asked by
Isaac Maliam
on Nov 14, 2024Verified
Notes or accounts receivables that result from sales transactions are often called
A) sales receivables.
B) non-trade receivables.
C) trade receivables.
D) merchandise receivables.
Trade Receivables
Trade receivables, also known as accounts receivable, are amounts owed to a business by its customers for goods or services delivered on credit.
Sales Transactions
The process of exchanging a product or service for payment, constituting the primary revenue-generating activities of a business.
- Define and differentiate between sales, non-trade, and trade receivables.
Verified Answer
PM
Learning Objectives
- Define and differentiate between sales, non-trade, and trade receivables.