Changes

==Examples==

==Examples==

* When you purchase a home with a mortgage through your bank, you now possess an account payable. You owe the bank your monthly payment, and because this represents a personal debt for you, it is classified as an account payable. The bank, however, would record an account receivable, as these two are considered opposites in simple accounting practices.  

* When you purchase a home with a mortgage through your bank, you now possess an account payable. You owe the bank your monthly payment, and because this represents a personal debt for you, it is classified as an account payable. The bank, however, would record an account receivable, as these two are considered opposites in simple accounting practices.  

* Any time you take out a loan or you a credit card to purchase a good or service, you are creating an account payable for yourself, as you are taking on a debt owed to another business entity.  

* Any time you take out a loan or you use a credit card to purchase a good or service, you are creating an account payable for yourself, as you are taking on a debt owed to another business entity.  

==See Also==

==See Also==