What is Accounts Payable?
Accounts Payable Definition Here we will study about Accounts Payable or Creditor Definition in Accounting. You may also be interested in “ What is Accounts Receivable ” Accounts Payable means that the debt or obligation payable by the business to Supplier of the business or other Companies and Financial Institutions providing funds to company for the operation of Business. Accounts Payable is the Current Liability which is payable by the business within the specified Accounting Period or Accounting Cycle. We Credited Accounts Payable Accou nt when it increases and debited when it decreases and Close or Clear Accou nts Paya ble Accou nt, w he n we fully paid to our suppliers or creditors for Goods Purc hased o n Credit or Accou nt . ...