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What type of accounts are accounts receivable and accounts payable?
Wiki User
∙ 11y ago
real accounts
Wiki User
∙ 11y ago
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Are creditors accounts payable or accounts receivable?
Accounts Payable
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
What is the difference for account receivable and accounts payable?
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
Is Accounts receivable is the opposite of accounts payable?
Accounts Receivable = money owed to YOU by another person or companyAccounts Payable = Money YOU OWE to another person or company
What is the antonym of accounts payable?
Accounts receivable is the term for amounts due, while accounts payable are owed.While this is the "opposite" of accounts payable, it is NOT an antonym.
Are creditors accounts payable or accounts receivable?
Accounts Payable
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
What is the difference for account receivable and accounts payable?
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
Is Accounts receivable is the opposite of accounts payable?
Accounts Receivable = money owed to YOU by another person or companyAccounts Payable = Money YOU OWE to another person or company
What is the antonym of accounts payable?
Accounts receivable is the term for amounts due, while accounts payable are owed.While this is the "opposite" of accounts payable, it is NOT an antonym.
When paying on credit is that classified as accounts payable or receivable?
account payable
What is the difference between Accounts Payable and Accounts Receivable?
Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. Accounts payable are liabilities. Accounts receivable are assets.
Is an invoice an accounts payable?
It can be either accounts payable or receivable. If you owe someone else - the invoice is for the service you provided, it's a receivable. If the invoice is from someone you owe money to for a services - it's payable.
What is the allowances doubtful account receivable?
accounts payable
What are 5 types of subsidiary ledgers?
accounts receivable ledger, accounts payable ledger, notes receivable ledger, notes payable ledger and equipment subsidiary ledger
Accounts Payable represents amounts owed to debtors True False?
False, Accounts payable represents the amount payable to creditors rather debtors which is called accounts receivable.
What are the three major business activities in accounting?
accounts payable, accounts receivable and taxes.
