TRADE PAYABLES  OR  ACCOUNTS PAYABLS IN ACCOUNTING. - video Dailymotion

TRADE PAYABLES  OR  ACCOUNTS PAYABLS IN ACCOUNTING.

Transcript

00:00What are trade payables? It is the amount payable for the purchase of goods and services taken in the ordinary course of business.

00:06Trade payables is the sum total of creditors and bills payable.

00:10So first of all, who is a creditor? A creditor is a person to whom the business owes an amount

00:16against the credit purchases of goods. What is bills payable?

00:19It is a bill of exchange or a document of promise in which the promise is made to pay the amount on the specified date.

00:25Hope you liked the video. Do subscribe to our channel to get more interesting videos on financial accounting.

00:31Thanks and regards, Accounting by Sonia Satya.