Accounts payable vs Accounts receivable | Difference between Accounts payable & Accounts receivable

In this video, you are going to learn "What is Accounts payable vs Accounts receivable?".
It is important to differentiate between accounts payable and accounts receivable because one of them is a liability account and the other is an asset account. Mixing up these two can cause a lack of balance in your accounting equation, which carries over into your basic financial statements. With examples.

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