Buster's Hot Dogs bought supplies on credit from a supplier. Which of the following is the amount the firm owes to the supplier?

Question

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Accounts payable is the amount owed by Buster's Hot Dogs to the supplier for the supplies purchased on credit. Long-term liabilities and loans payable refer to debt owed to lenders, and accounts receivable refers to money owed to Buster's Hot Dogs from its customers.

Buster's Hot Dogs Bought Supplies on Credit from a Supplier