Accounts Payable

Accounts Payable •

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Money which a company owes to vendors for products and services This item appears on the company's balance sheet as a current liability

An unconditional promise made by a party in a contract to repay a debt at a specified time or on demand under definite terms. Or, this can be an amount an organization owes in loans to others.

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An expense that is incurred, but not yet paid

for, during a given accounting period.