Accounts Payable

owe

to be in debt

weigh against

to compare the benefits and disadvantages of two things or options against one another in order to choose the best one.

debt

something, typically money, that is owed or due

certain

specific but not explicitly named or stated

accounts receivable

the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers

to a certain extent

to some degree

net

(adj) remaining after expenses or other factors have been deducted

IOU

I owe you

due date

The date by which an invoice must be paid.

entity

a business organization such as a corporation or partnership

cash flow statement

a financial statement that reports net wages and other income along with spending for a period, such as for a month.

balance sheet

a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

promissory note

a written and signed promise to pay a sum of money at a specified time

lender

an organization or person that lends money

referred to

called

prior

coming earlier in time

liabilities

debts that you owe

obligation

duty

pay off

finish paying for something

acknowledge

recognize; admit