Practice question 05 when is a receivable recorded by a service organization? when the related expenses are incurred when service is provided on account when the customer pays when the bill is sent to the customer
Receivables is an asset title relevant to all arrears, unsettled dealings or other financial responsibilities payable to a company by its borrowers or clienteles. When service is provided or delivered on account a receivable is recorded and noted when the service is executed, not at some other particular date.
