Accounts Payable (AP) | Definition, How It Works & Example
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financestrategists.com
Accounts Payable (AP) | Definition, How It Works & Example
Accounts Payable, or AP in its abbreviated form, is a ledger entry made for amounts owed to creditors in the short-term, typically less than a year, on an open account. It is generally recorded as a collection of invoices and promissory notes received from a vendor. Each invoice has different credit terms and payment amounts that are specific ...
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