Dr.Rick Torres runs a chiropractic clinic.He typically bills his customers for services he performs and gives them about 30 days to make the payments.These amounts of money that his customers owe are called
A) allowances for doubtful accounts.
B) prepaid expenses.
C) unearned revenue.
D) intangible assets.
E) accounts receivable.

Question

Quizplus · Accepted Answer

The amounts of money that Dr. Torres' customers owe him for services performed are called accounts receivable. This is an asset on Dr. Torres' balance sheet because he expects to receive payment from his customers within a certain timeframe.

DrRick Torres Runs a Chiropractic Clinic