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Accounts Payable Accounts payable  represent trade payables, those obligations that exist based  on the good faith credit of the business or owner and for which a formal note has  not been signed. Purchases of merchandise or supplies on an account are 
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Unformatted text preview: examples of liabilities recorded as accounts payable. The credit terms of each transaction and the company's ability to take advantage of available discounts determine the timing of payments of accounts payable balances ....
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