Introduction
The term Receivables is defined as ‘debt owned to the firm by customers arising from sale of goods or services in the ordinary course of businesses. When a firm makes an ordinary sale of goods or services and does not receive payment, the firm grants trade credit and creates accounts receivable which could be collected in the future. Receivables management is also called trade credit management. Thus, accounts receivable represent an extension of credit to customers, allowing them a reasonable period of time in which to pay for the goods received. In other words, A Receivable is t
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