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What is the difference between an account payable and a note payable? A note payable is always long - term. A note payable is owed

What is the difference between an account payable and a note payable?

A note payable is always long

-

term.

A note payable is owed to a bank.

An account payable is a signed promissory note.

An account payable is usually due in

30 - 60

days.

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