Accounts owed (accounts receivable) are short-term assets on a company's balance sheet, representing money customers owe for goods or services received on credit. These receivables are legally binding and must typically be paid within a set period, ranging from days to a year. Companies track accounts receivable using aging schedules to monitor payment status. Accounts receivable a... https://www.managecfo.com/news/the-nutshell-of-accounts-receivable-nwid-79.html