Accountancy, asked by mepratikgaikwad, 1 year ago

Differentiate between trade receivable and trade payable

Answers

Answered by anna1961
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.)
Answered by casy206
1
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.

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