Redlands Ashlyn Motors Accountant Interview Questions and Answers

Bills payable are the amounts owed by a company to its suppliers or vendors for goods or services received.

• Bills payable are recorded as a liability on the balance sheet.

• They are typically due within 30 to 90 days of receipt of the goods or services.

• Examples of bills payable include invoices for raw materials, utilities, and rent.

• Managing bills payable is an important part of cash flow management for a company.