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.

According to Survey of Accounting, accounting uses a double-entry system, which is shown as a T. The left side of the T has debits and the right side has credits. Journals use the double-entry ...