Accounts Receivable Current Asset, Yes, it is generally classify as a current asset on a company’s balance sheet. This is because account receivable represent amounts owed to the company by its customers for goods or services that have already been deliver or provide, but for which payment has not yet been receive.
As the company expects to collect payment within a relatively short period of time (usually within one year), account receivable are consider a current asset, which is an asset that is expect to be convert into cash within the next 12 months.
For more information, visit this site: https://www.incometax.gov.in/
