Question

Differentiate between trade receivable and trade payable

Answer 1

Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. ... Accounts receivable are assets. Let's assume that Company A sells merchandise to Company B on credit. (Perhaps theinvoice states that the amount is due in 30 days.)

Answer 2

trades payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. trade receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer.
trade payable are liabilities.
trade receivable are assets.