Accounts Payable vs Accounts Receivable: What's the Difference?

account payable When an account payable is paid, Accounts Payable will be debited and Cash will be credited Therefore, the credit balance in Accounts Payable should be equal

Accounts payable and trade payable are two important concepts in accounting, but they have distinct meanings Accounts payable is the money account payable Lesson Summary Accounts payable are the short-term financial obligations of a company related to the purchase of goods and services For example, a business