Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's ...

Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

The money a corporation borrows by issuing a notes payable must be repaid to the lender with interest. All transactions related to the note and the exchange of monies between the borrower and lender ...

Notes payable is accounting-speak for promissory notes, written commitments that say you've borrowed money and have to pay it back. Like other outstanding debts, notes payable affect your bottom line.