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Query for account

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(Querist)
07 August 2015 Bills receivable and bills payable are which account ?
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Arpit Shah

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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.
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Arpit Shah

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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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