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:

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