Question

12. The balance in receivables as on the
date of Balance Sheet is converted at​

Answer 1

Answer:

Accounts payable is the amount of short-term debt or money owed to suppliers and creditors by a company. Accounts payable are short-term credit obligations purchased by a company for products and services from their supplier. 

Accounts payable have payment terms associated with them. For example, the terms could stipulate that payment is due to the supplier in 30 days or 90 days. The payable is in default if the company does not pay the payable within the terms outlined by the supplier or creditor. Accounts payable is listed on a company's balance sheet.