Financial Accounting Fundamentals | Online Course Support

College Computers delivers $9,000 worth of laptop computers to the School of Business who will pay for them next month. In which of the following Balance Sheet accounts should College Computers record the amount it is owed by the customer?

 
 
 
 
 
 

Correct answer. The right to collect payment is now owned/controlled by the company and is expected to provide future economic benefits, so the customer’s future payment should be recorded in an Asset account.

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