Account Receivable basically refers to the amount that customers owe to an entity once they purchase goods or render services on credit. In most cases, these receivables are expected to be collected in less than one year from the reporting date.
Once the entity believes that these account receivables could be collected in less than one year, then the account classification of account receivables should be under current assets.
However, in some cases, those receivables could not collect in less than one year. We can know these based on the business practices, contract, or agreement.
In the case that receivables could no be collected in less than one year, the account classification could be classified into non-current assets at book value.