What is BILL PAYABLE?

In a merchant’s accounts, all bills which he has accepted, and promissory notes which he has made, are called “bills payable,” and are entered in a ledger account under that name, and recorded in a book bearing the same title.

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Related Legal Terms
BILLRECEIVABLE, BILL-BOOK, BILL AT DEBT, ACCOUNTS PAYABLE TURNOVER, PAYABLE TO CASH, PAYABLE, BILL IN NATURE OF A BILL OF REVIVOR, BILL OF ENTRY, NET METHOD OF RECORDING ACCOUNTS PAYABLE, JOURNAL


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