Example of Accounts Payable Note 22
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NOTE 22 - ACCOUNTS PAYABLE
The Accounts Payable balance for year one, two and three consist of the following items:
| YEAR 1 | YEAR 2 | YEAR 3 | |
| Toll Free Charges | $1,569 | $1,863 | $2,286 |
| Commissions from Sales | $ 788 | $ 936 | $1,149 |
| Office Supplies | $ 500 | $ 0 | $ 0 |
| Telephone | $ 300 | $ 320 | $ 340 |
| Professional Services | $ 250 | $ 292 | $ 333 |
| Toll-free Charges above Variable | $1,569 | $1,864 | $2,287 |
| Total Accounts Payable | $4,975 | $5,274 | $6394 |
These payables are a result of a one month "delay" in payment. Moreover, J&B will establish 30 day credit terms with the suppliers of the above services. As indicated on the Company's Cash Flow Statement, full payment of the above payables will commence in the first month of the following fiscal year.