Changes

* 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 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.

* 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.

* Examples of accounts payable for a small business would be: utility bills, payments owed to vendors who provided services or goods to the business, lease payments on equipment.

* Examples of accounts payable for a small business would include utility bills, payments owed to vendors who provided services or goods to the business, payroll to employees, and lease payments on equipment.

==See also==

==See also==