Notes payable and accounts payable are written promises to pay an amount owed by a certain date. Notes payable generally have interest but accounts payable generally do not.

Name: Notes payable and accounts payable are written promises to pay an amount owed by a certain date. Notes payable generally have interest but accounts payable generally do not.
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Question

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Notes payable and accounts payable are both types of liabilities, but notes payable include interest while accounts payable do not.

Notes Payable and Accounts Payable Are Written Promises to Pay