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Accounting for receivables. Recognizing and valuing accounts receivable. When were looking at accounts receivable, theres really three accounting issues that need to be concerned: recognizing, valuing, and disposing. And in this video, Im going to cover the recognizing and valuing aspects. So lets look at recognizing. To recognize, it means to record something, and so we recognize accounts receivable depending on when we recognize the related revenue. And so, in a service organization we would debit accounts receivable to recognize that receivable whenever we perform a service on account. For a merchandising company, we would record the account receivable when we sell some merchandise on account. And so in both cases we recognize, or debit accounts receivable, at the point of that sale on account. Now lets look at the more complicated aspect of valuing. So our standards tell us that accounts receivable is a current asset because we usually expect to get paid within one year