FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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What is the difference between Notes Payable and Accounts Payable?

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Introduction:

Accounts payable  is an account within the general ledger that represents a company's obligation to pay off a short-term debt to its creditors or suppliers.

Notes Payable are written agreements in which one party agrees to pay the other party a certain amount of cash. In simple word, a note payable is a loan between two parties.

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