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What is difference between account payable and bills payable?

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Question ajoutée par Manoon Hamsar , Senior Accountant , Landmark Group - Centrepoint / Home Centre/ MAX / E-MAX-Multi National Company-Jeddah KSA
Date de publication: 2016/03/21
Muhammad Shoib
par Muhammad Shoib , Project Coordinator , ISHADA Contracting Co

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

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