Amounts owed to suppliers for supplies purchased on account are defined as

2 answers:

5 0

The term being referred in the item above is called as "Accounts Payable". By the words being used in the term itself, it may be easily determined that this is a liability being owed to the supplier and should be payed in any terms, such as notes, check, or cash.

vlabodo [156]3 years ago

5 0

Amounts owed to suppliers for supplies purchased on account are defined as "accounts payable". It <span> is an </span>accounting<span> entry that represents an entity's obligation to pay off a short-term debt to its creditors. Hope this answers the question. Have a nice day.</span>

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