WebMar 14, 2024 · The most common current liabilities are: Accounts payable: These are the yet-to-be-paid bills to the company’s vendors. Generally, accounts payable are the largest current liability for most businesses. Interest payable: interest expense that has already been incurred but has not been paid. WebMay 18, 2024 · The highest payroll liability balance should be for employee take-home pay. At the end of each accounting period, businesses record a liability in an account called Wages Payable or Salaries...
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