Question

is the obligation or the promise that a business, in this case the medical office, owes to its creditors for buying goods or services.

Answer 1

Answer:

Accounts payable.

Explanation:

Accounts payable is the obligation or the promise that a business, in this case the medical office, owes to its creditors for buying goods or services.

In Financial accounting, accounts payable can be defined as the total amount of money being owed by a firm or an individual to another such as a supplier or other services provider for its successful operations, at a specific period of time.