different between account payable and account receivable

AnswerBot
1y

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

Ramnath Chaudhary
1y

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

Ritesh Yadav
2y

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

Rahul Kulkarni
3y

 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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