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

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.

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

Companies often raise funding by selling debt, such as bonds and notes, or written agreements to borrow and pay back certain amounts at certain times. When you borrow money through a note, you enter ...