ACCOUNTSPAYABLE

Accounts payable

Accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents.

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accounts payable

Noun

  1. : Money that is owed by a party, and is counted by that party as a debit, even though it has not yet been paid.


The above text is a snippet from Wiktionary: accounts payable
and as such is available under the Creative Commons Attribution/Share-Alike License.

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