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Accounts Payable
An accounting entry that represents a company's obligation to pay off a short-term debt to its creditors or suppliers.
T Account
A graphical representation in accounting that resembles the letter "T", used to track the increases and decreases in accounts, making it easier to understand transactions.
Credit Side
The right side of an accounting ledger where increases in liabilities, equity, and revenue accounts are recorded.
Debit Side
The left side of a ledger account that records increases in assets and expenses or decreases in liabilities and equity.
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