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Since accounts receivable and inventory are balance sheet items, they do not directly affect your companyâs income statement. Fluctuations or changes in these two current assets always appear on the balance sheet and on the cash flow statement. Revenues on the income statement show up as A/Rs or cash on the balance sheet and cash flow statement.
Answers.comÂ® is making the world better one answer at a time. Account receivable is a balance sheet item shown under current assets on the asset side, having a debit balance. It doesn't have anything to do with net income as accounts receivable is never shown in the trading profit and loss account. Only credit sales relating to such receivables during the current year forms part of the credit side of profit and loss and nit the account receivable itself.