ACCOUNTS PAYABLE - amounts owed to creditors for purchase of goods or services received.
NOTES PAYABLE amounts expresses in written promise to pay the creditor or a specified date.
TAXES PAYABLE - amounts due to the government like sales taxes and income taxes.
INTEREST PAYABLE - interest already incurred but not yet been paid
RENT PAYABLE - rent already used but not have been paidSALARIES PAYABLE employees' amounts for services done but not yet been paid.
UNEARNED (income) - amount received in advance before services are rendered
