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Bookmark or Share- Accounts Payable (AP) | Definition, How It Works & ExampleAccounts Payable, or AP in its abbreviated form, is a ledger entry made for amounts owed to creditors in the short-term, typically less than a year, on an open account. It is generally recorded as a collection of invoices and promissory notes received from a vendor.
- Accounts Payable: Definition, Example, and Journal EntryAccounts payable refers to the money your business owes to its vendors for providing goods or services to you on credit. Typically, these are the short-term debts that you owe to your suppliers. In other words, the total amount outstanding that you owe to your suppliers or vendors comes under accounts payable.
- What is Accounts Payable: Definition, Process, and ExamplesAccounts Payable refers to a business’s obligations to suppliers and creditors for purchases made on an open account. It specifically refers to any amounts owed expected to be paid within one year or less (usually due in 30 to 60 days).
- Understanding Accounts Payable (AP) With Examples and How to ...Accounts payable (AP), or "payables," refers to a company's short-term obligations owed to its creditors or suppliers, which have not yet been paid. Payables appear on a company's balance sheet...
- Accounts Payable - Definition, Turnover, ReducingAccounts Payable (AP) is generated when a company purchases goods or services from its suppliers on credit. Accounts payable is expected to be paid off within a year’s time or within one operating cycle (whichever is shorter).
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