It refers to the amount a business owes its suppliers or vendors for goods or services bought on credit. It signifies a liability on the balance sheet since the business has received the goods or services but has not yet paid. Accounts payable typically include supplier invoices due within a specified timeframe, often 30, 60, or 90 days.
What is Accounts Payable (AP)?
prathiba harish . Aug 07, 2024
A:
aman varshney Jul 25, 2024
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