The Arizona Bay Corporation sells on credit terms of net 30. Its accounts are, on average, four days past due.Have you ever turned down or avoided a new sales opportunity because of a customer's payment terms? To provide policies and procedures for invoicing and recording accounts receivable for sales to external (nonUniversity) customers for goods and services. Prepare and complete a Loans and Notes Receivable Form for each program your agency administers. Attach a copy of a sample loan agreement or note if possible. Our receivable factoring company programs and services for Phoenix companies will get you the cash you need and provide relief to your customers too. Apply to Accounts Receivable Clerk, Accountant, Office Manager and more! Accounts receivable (AR) is an accounting term for money owed to a business for goods or services that it has delivered but not been paid for yet. The company's balance sheet amount in accounts receivable is.