Llamas live wild in South America, mainly in Peru, Chile, Argentina, and Bolivia. However, they have been domesticated and there are farms all over the United States and Canad â¦ a that raise llamas.
Accounts receivable is a legally enforceable claim for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame.
In this case, the amount acts as dues to be received and will be booked in your records as accounts receivable. It is similar to the situation where your mobile phone company generates an invoice on the 1st day of a month and gives you 30 days to pay the bill. It is an account receivable for the mobile phone company. Key Highlights; Accounts receivable are created when you sell goods on credit. Accounts receivable should be collected from the customers within an agreed period of time.