A liability expressed by a written promise to make a future payment is usually called an account payable.

Name: A liability expressed by a written promise to make a future payment is usually called an account payable.
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A liability expressed by a written promise to make a future payment is usually called a note payable. Accounts payable typically refer to short-term financial obligations to suppliers or creditors that are not evidenced by a promissory note.

A Liability Expressed by a Written Promise to Make a Future