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TeachMeFinance.com - explain Accounts Payable accounts payable -- amounts recorded as liabilities on the books of a company, institution or individual that are owed, but have not yet been paid, to a creditor for previously purchased merchandise or services.
Accounts Payable -- A current liability representing the amounts owed to creditors for merchandise or services purchased on open account or short-term credit.
Accounts Payable --
Money that is due on open account to creditors for good and services. One indication of sound daily financial management is the balance between accounts payable and purchases.
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