Bonds Payable:Bonds payable are long-term debt instruments issued by companies to raise capital, with the promise to pay back the principal along with interest at a future date.
Mortgage Payable: A mortgage payable is a type of long-term liability where the borrower agrees to pay back a loan used to purchase property, typically through monthly payments over a set period of years.
Accounts Payable:Accounts payable represents short-term financial obligations to suppliers or creditors for goods and services received but not yet paid for by the business