Query for account
This query is : Resolved
Arpit Shah
(Expert)
08 August 2015
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.
Arpit Shah
(Expert)
08 August 2015
Accounts receivable is a legally enforceable claim for payment held by a business against its customer/clients for goods supplied and/or services rendered in execution of the customer's order.
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