Final answer:
Accounts receivable are shown as an asset in the 'Assets' column of the balance sheet. In the 2024 year-end balance sheet, accounts receivable will be included in the assets section.
Step-by-step explanation:
In a balance sheet, accounts receivable are classified as an asset under the 'Accounts Receivable' account. It represents money that is owed to a company by its customers for goods or services provided on credit. Accounts receivable are typically shown in the 'Assets' column on the balance sheet, under the category of 'Current Assets'.
For example, let's say a company is owed $10,000 by its customers. This amount will be recorded under the 'Accounts Receivable' account on the balance sheet. If the company has other current assets, such as cash or inventory, they will be listed separately in the 'Assets' column.
In the 2024 year-end balance sheet, accounts receivable will be included in the assets section of the balance sheet, providing a snapshot of the amount of money owed to the company by its customers at the end of that year.