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PIT_PIT [208]
3 years ago
9

Miller is the owner of a restaurant that has several franchises. One of the franchisees owes Miller a sum of $18,000 for the goo

ds that he had bought from Miller on credit. In this scenario, the money owed to Miller is known as _____.
Business
1 answer:
sammy [17]3 years ago
8 0

Answer:

Accounts receivable

Explanation:

Accounts receivable is the money owed by a company to its debtors. They are usually legal payments for goods and services procured in credit without paying for them.

  • The franchise is treated as the debtor in this deal.
  • Miller is owed an account receivable of $18000
  • A common example is water and electricity bills.
  • Such goods are supplied before they are paid for.
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