What is accounts receivable?

Multiple Choice

Amounts a customer owes our business from a credit sale where the customer promises to pay later.

Amounts a customer has already paid us and the receivable represents discounts we will pay our customers at a later date.

Amounts a customer will pay us at a later date only if we provide a service or product to them.

Amounts we must return to our customer if they pay us within a specified period of time.