1 Answer | Add Yours
Account Receivable is an asset while account payable is a liability. Hence, account receivable is recorded under asset in a balance sheet, on the other hand, account payable is recorded under liabilities.
Account receivable are the amount of money or goods that a company has the right to collect for any product/service that it has sold or rendered.
Account payable is the amount that a company has to pay for any product/service that it has bought which is not paid immediate as the goods were delivered.
We’ve answered 319,854 questions. We can answer yours, too.Ask a question