Question

what's the difference between note payable and account payable?? explain in detail,,​

Answer 1

Answer:

Notes payable are written agreements mostly created and issued for debt arrangements and are payable to credit companies and financial institutions. Accounts payable are generally the suppliers of services and inventory. ... Notes payable, however may or may not be included as part of a company's cash flow management

Answer 2

Answer:

Notes payable include interest charges, whereas there's no interest associated with accounts payable entries. A note payable is a business loan, whereas accounts payable are purchases made on short-term credit.