Leaning Online

  Accou nts Receivab le or Su ndry Deb tor is a Real or Property Accou nt as it is categorized as Current Asset w hich is show n on b ala nce s heet. It would pro b a b ly provide b e nefits to t he compa ny in t he form of cash received from customers to whom the compa ny sold goods on credit. For example, goods sold to customers, Mr. A, Mr. B, Mr. C, etc., on account creates Accounts Receivab le from whom the b usi ness would get t he cas h amou nt w he n they paid to the compa ny against t he goods sold to them b y the b usi ness for t h e period. Accounts Receivab le is also co nsidered as a personal account as it s hows certai n numb er of  natural or living  customers to whom the b usi ness sold goods on account. N ominal Accounts are co n sidered as Temporary Accou nts as t h ese are concerned wit h expe nses and losses and revenues and gains w hich are closed to I ncome Statement finally at t h e end of t h e accounting period. So, accounts r...