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Assignment of Accounts Receivable Form

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hi everyone welcome back to sahab academy today in this video we are going to understand what do you mean by receivables and payables in accounting what is the difference between these two and how do we treat them in the books of accounts okay so let's start the video and let's understand that now first let's take this beautiful example to understand the concept of receivables and payables believe me it's really simple let's say for example you have a pharmacy business and whatever i'm going to say right now please think this from the point of view of pharmacy only okay from the business point of view all right so let's start so now what's happening over here is first thing is you have made a credit purchase from your supplier so what does that mean credit purchase see credit purchase is also known as purchasing on account so we also don't know that so it's really simple you have purchased supplies medicine

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