Accounts & audit
This query is : Resolved
SATYAJIT BHOL
(Querist)
26 February 2016
what are the items covered under ACCOUNTS RECEIVABLES & ACCOUNTS PAYABLES?
Suresh Ramaswamy
(Expert)
28 February 2016
These accounts are also known as Sundry Debtors and Sundry Creditors in common parlance. Hence any body who owes you money for goods and services supplied as part of your operations would be included in Accounts Receivable and anyone to whom you owe money for supply of goods and services for your operations would be included in Accounts Payable.
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