What is Account receivable & Account payable ?
Answer Posted / nagarajan
Accounts receivable is amount due from the debtor for the
goods or services rendered to them by us.
Accounts payable is the amount payable to the creditor for
the goods or services rendered by thm to us.
It appears on Balance sheet,
Accounts payable - credit side
Accounts receivable - Debit side
Is This Answer Correct ? | 16 Yes | 3 No |
Post New Answer View All Answers
Which accounting application you prefer most and why?
What does it mean to do accounting training outside of public practice?
What is tally accounting?
what are the adjustments and treatment with connection to the profit and loss appropriation accounts and how they do?
professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally
what is the new rate of c.s.t in uttraklhand
Do you possess any knowledge about accounting standards?
List out things that fall under intangible asset?
What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.
Explain me the basic accounting equation?
Define tally accounting
what is the Journal entry for credit card bill paid from same bank account
whats difference between manufacturing account & cost account
Definition of push down accounting
i have pay to 250000 excise duty so i ask to all how can maintain entry in tally ?