Question

* Distinguish between Accounts Receivable and
Account Payable.

Answer 1

Accounts receivable are the amounts owed to a company by its customers. it is an asset to the company

accounts payable are the amounts that a company owes to its suppliers.it is a liability to the company

Step-by-step explanation:

Answer 2

Step-by-step explanation:

Accounts receivable is money owed to a company by its debtors.

Account payable amounts due to vendors or suppliers for goods or services received that have not been yet paid for.