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Answer Posted / bharathi
In simple terms - Accounts Payable - means Sundry Creditors
it comes under Current Liabilities in Balance Sheet
The Supplier who is supplying goods in Credit is known as
creditors.
Accounts receivable means Sundry Debtors it comes under
Current Assets in Balance Sheet. The Buyer who is buying
goods from us on credit basis is known as Debtors.
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