📚 noun • entry_id 38895
accounts payable
Meanings (ES + gloss)
cuentas a pagar • cuentas pendientes de pago
The total amount of money that is owed by a customer to its suppliers of goods and services and is counted by the customer as a current unpaid debt.
Cost of goods sold are divided by the accounts payable to get the payables turn ratio.
When such a practice is to be followed, two methods may be employed: (1) accounts payable may be reported net or (2) accounts payable may be reported at the gross invoice price wit…
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