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What does account receivable mean?

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account receivable
(A/R)
Noun

A current asset arising from the sale of goods and/or the rendering of services on open account in the ordinary course of business, the balance on balance sheet date showing the total amount of revenue earned from sales on open account but not yet collected at the end of the accounting period.

Synonym(s): 
  • [BE]: debtor
    .
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