ACCOUNTS PAYABLE, in accounting terminology, amounts owed by a business to its creditors and not evidenced by notes, bonds, acceptances or other recognition. Loans from offi cers or partners of an enterprise should be considered as loans payable rather than accounts payable; creditors accounts with debit balances should be listed as other accounts receivable rather than as a deduction from accounts payable. In its broader sense, the term includes amounts received in advance for merchandise that has not been shipped, rentals received in advance, etc.