Friday, November 28, 2014 9:53:25 AM
Receivables can be all monies owed from sale of product plus any other sales. Ie the business may sell a car which is an asset but not sales of product.
Goods in transit usually means inventory purchased but not received. i.e.. FOB means freight on board. Meaning the sellers ownership ends once the product is shipped and then becomes the buyers responsibility.
MRIB long.
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