Difference Between Accounts Payable and Receivable -

Accounts Payable vs Accounts Receivable: What's the Difference? account payable Account payable definition: a liability to a creditor, carried on open account, usually for purchases of goods and services See examples of ACCOUNT account Accounts payable represents the amount that a company owes to its creditors and suppliers

account payable What is Accounts Payable Definition: When a company purchases goods on credit which needs to be paid back in a short period of time, it is known as Accounts