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- Dictionaryaccounts payable
plural
- 1. money owed by a company to its creditors.
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plural
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Money owed by a business to its suppliers
Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payable department's main responsibility is to process and review transactions between the company and its suppliers and to make sure that all outstanding invoic... Wikipedia