Money owed to others for goods or services are known as:

Question

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Money owed to others for goods or services are known as accounts payable. Account payables are a liability.
Key Takeaway: Accounts payables are money that is owed, but not yet paid, for goods or services. Accounts payables are liabilities. Accounts receivable are amounts a company has a right to collect on goods or services sold on credit to a company. Accounts receivables are assets.

Money Owed to Others for Goods or Services Are Known