Is accounts receivable on income statement?

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My understanding is that the accounts receivable is income. Isn’t income included on the income statement?

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score 0 · Answer 1 · 2013-05-07T23:19:14+00:00

No, the accounts receivable are reported as part of the assets on the balance sheet. The income statement only shows income and expenses (not assets or liabilities).

If you make a credit sale, then you will credit your revenue and you will debit your accounts receivable. The first entry will be on the income statement (revenue line) and the second entry will be on the balance sheet (accounts receivable line).