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ccoasis
Jun 26, 2009, 11:49 AM
Amounts owed by a business to others are referred to as ______. Is it liabilities?
Assets are financed by two sources, what are they? One is owner's equity, what is the other called accounts receivable?:rolleyes:
pready
Jun 28, 2009, 11:58 AM
Amounts owed to others is a Accounts Payable, which is a Liability

Assets are financed by investments by owners(Owners Equity Account) and Financing (Liability Accounts) such as Notes Payable