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Unformatted text preview: Accounts Payable Amounts owed for products and services purchased on account Short-Term Notes Payable Common form of financing; company incurs interest expense Sales Tax Payable Tax levied by state on retail sales; company collects from customer and remits to govt Accrued Liabilities Expense incurred, but not yet paid; often an adjusting entryl includes salaries & interest payable Payroll Liabilities Salaries & wages paid to employees; also includes income taxes and FICA taxes withheld Unearned revenues Customers makes payment before receiving product or service...
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