Difference between accounts payable and sundry creditors
This query is : Resolved
15 September 2023
What is the difference between accounts payable and sundry creditors and how their treatment done
16 September 2023
No difference.
Sundry creditors are also known as trade creditors or accounts payable. These are the parties from whom the business has purchased goods or services on credit, and has not yet paid the due amount. These creditors are considered as short-term liabilities and are usually settled within a year.
Sundry creditors are also known as trade creditors or accounts payable. These are the parties from whom the business has purchased goods or services on credit, and has not yet paid the due amount. These creditors are considered as short-term liabilities and are usually settled within a year.
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