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tensa zangetsu [6.8K]
3 years ago
7

What are accounts payable and accounts receivable?

Business
2 answers:
Amiraneli [1.4K]3 years ago
7 0

payable = money owed by a company to its creditors

receivable = money owed to a company by its debtors.

ira [324]3 years ago
4 0

Accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents.

Accounts receivable are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame.

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1. are consistent with decentralization.

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