객관식
Which of the following accounts related to receivables would normally have a credit balance?
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7. Receivables and Investments
Types of Receivables
객관식
Sales to customers in which the customers pay within 30 to 60 days are referred to as:
A
Unearned revenue
B
Interest receivable
C
Notes receivable
D
Accounts receivable
검증된 단계별 안내1
Understand the concept of accounts receivable: Accounts receivable refers to the amounts owed by customers for goods or services provided on credit. These are typically paid within a short period, such as 30 to 60 days.
Review the definition of unearned revenue: Unearned revenue represents money received by a company for goods or services that have not yet been delivered or performed. It is not related to credit sales.
Clarify the meaning of interest receivable: Interest receivable refers to interest income that has been earned but not yet received in cash. It is unrelated to sales transactions.
Explain notes receivable: Notes receivable are formal written agreements where a customer promises to pay a specific amount at a future date, often including interest. This is different from accounts receivable, which is less formal and typically short-term.
Conclude why accounts receivable is the correct answer: Sales to customers on credit, where payment is expected within 30 to 60 days, are recorded as accounts receivable because they represent amounts owed by customers for credit sales.
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