Accounts payable

When such a practice is to be followed, two methods may be employed: (1) accounts payable may be reported net or (2) accounts payable may be reported at the gross invoice price with a payable offset balance or liability valuation account reporting the purchases discounts available.

Cost of goods sold are divided by the accounts payable to get the payables turn ratio.

Masters, with accounts payable averaging 2,296 livres (median = 1,008) were far more heavily indebted than the faubourg bakers (712 and 320 livres)