A note payable can be used to extend the credit period for an account payable.

Name: A note payable can be used to extend the credit period for an account payable.
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A note payable is a written promise to pay a certain amount of money on a specific future date. By issuing a note payable, a company can extend the credit period for an account payable, allowing them more time to pay off their debt.

A Note Payable Can Be Used to Extend the Credit