Accounts payable is a file or account sub-ledger that records amounts that a person or company owes to suppliers, but has not paid yet (a form of debt). When an invoice is received, it is added to the file, and then removed when it is paid. Thus, the A/P is a form of credit that suppliers offer to their customers by allowing them to pay for a product or service after it has already been received.
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mbi_public
created
Sun, 06 Feb 2011 19:57:22 GMT
creator
dirkjan
modified
Sun, 06 Feb 2011 19:57:22 GMT
modifier
dirkjan
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Balance Sheet
Term
creator
dirkjan