different between account payable and account receivable
Accounts payable is money owed by a company to its suppliers, while accounts receivable is money owed to a company by its customers.
Accounts payable represents the company's short-term liabilities, wh...read more
What is the entry of sale (with GST) = 100+18(GST)
Accounts Receivable/debtors/Bank A/c Dr. 118
To Sales 100
To Output GST 18
Purchase A/c Dr 100
Input GST A/C Dr 18
To Accounts Payable/bank/Creditors A/c
Account payable:- when a company purchase any good our service on credit basis and its payment have been not cleared yet. As called account payable
Account receivable:- is the payment which the compan...read more
accounts payable represents money that your money owes to suppliers and account recieveable represents money owed to your business by customers
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