Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. The balance sheet ... lines of credit at low ...

Accounts receivable is the income derived from credit accounts. For the balance sheet, it's the total amount of income to be received that's logged into the books at the close of the fiscal year.

Accrued expenses are expenses that have occurred but have not yet been paid for, while accrued interest can be a type of accrued expense.