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Www.bills receivable and bills payable how its use in accounting?

Accounts Receivable
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Question added by ria roy
Date Posted: 2017/01/31
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Varun Sharma
by Varun Sharma , Business financial analyst/Internal auditor/assistant manager accounts , Smiro International DMCC

Accounts receivables AR is our companies funds receivables.Its our Current assets it may be Sundry debtors, receivables .Interest

 

Accounts Payables AP is our Current Liability may be Creditors to whom we have to pay off against our services/good receipt.

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