receivable

Definition

Money that someone owes you but hasn't paid yet, living in that optimistic space between "they said they'd pay" and "we're calling the lawyers." It's an asset on paper because theoretically you'll collect it, but in practice it's IOU notes from varying degrees of reliable sources. Also known as "accounts receivable" when accountants want to sound official.

Example Usage

The company had $200,000 in receivables, though half of it was from clients who'd mastered the art of avoiding phone calls.

Source: Accounting terminology

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