Accounts Payable
Accounting
V15
Accounts Payable Mastery
Accounts Payable (AP) is a liability on a company's balance sheet, representing the amounts owed to suppliers or vendors for goods and services received on credit.
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10 Lessons

Accounts Payable (AP) is a liability account in the financial records of a business, representing the amounts the company owes to its suppliers or vendors for goods and services purchased on credit. It is a crucial component of the company's working capital and reflects the short-term obligations that need to be settled within a specific period, often referred to as the credit terms. AP can include various types of expenses, such as inventory purchases, utilities, and services.

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