Hello, I was hoping somebody could help me with some accounting questions. This is my first time taking an accounting class and any help would be greatly appreciated.

I understand that an accounts receivable means somebody owes you money while an accounts payable means you owe somebody else money. I need help finding an example to apply both terms as a college student:

• How would you as a college student have anaccounts receivable?

• How would you as a college student have anaccounts payable(this isn't a loan)?

Thank you in advance.