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Download the monthend close checklist shown in this video:
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Download the vacation accrual example shown in this video:
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Chapters:
00:00 Summary of video
01:10 Definition of Accounts Payable and Accrued Expenses
03:00 How to locate on the financial statements
04:34 How to record Accounts Payable
06:59 How to record Accrued Expense example vacation liability


I got some questions around the difference between Accounts Payable and Accrued Expenses. I made this video to clarify with examples.



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