Accounting Dictionary

Accounts Payable

Accounts Payable are the short term debts of the business.

If a company charges something and the bill is due in 30 days that is an account payable. If a company charges something with a credit card and will get the bill in 30 days, that is an account payable. Accounts payable is listed under current assets on the balance sheet.
Related terms: Note payable, bond payable, accounts receivable

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