Question
Explain the following terms: $(A)$ Payables And $(B)$ Receivables
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| $1$ | Cash purchase $Rs.15,000$ and cash sales $Rs.14,000.$ |
| $2$ | A personal goods of $Rs.10,000$, brought to business. |
| $3$ | Goods of Rs.$12,000$ purchased from Harsh. |
| Balances of Acconts | Amt. (Rs.) |
Balances of Accounts | Amt. (Rs.) |
| Match Fund | $70,000$ | Interest on match fund investment | $4,000$ |
| Investments of Match fund | $35,000$ | Donation received for match fund | $16,000$ |
| Prize distribution to match winners | $5,700$ | Permanent fund | $1,05,000$ |
| Match Expense | $8,250$ | Investments of Permanent fund | $1,05,000$ |
| Dr. | Ledger of Yogesh Pranav Account | Cr. | |||||
| Date | Particulars | J. F. | Amt. (₹) | Date | Particulars | J. F. | Amt. (₹) |
| $2018$ July |
2018 July |
||||||
| $7$ | Bills payable A/c | $20,000$ | $5$ | Purchase A/c | $36,800$ | ||
| Bank A/c | $1600$ | $12$ | Purchase A/c | $22,500$ | |||
| Discount A/c | $800$ | ||||||
| $16$ | Purchase return A/c | $1500$ | |||||
| $18$ | Bank A/c | $11000$ | |||||
| $31$ | Balance c/f | $10000$ | |||||
| 59,300 | 59,300 | ||||||