Loan, Money borrowed from others, e.g. banks and lenders, Mortgage loan, Money borrowed using collaterals, Collaterals, Assets that lenders can sell to get their money back if the borrower does not repay the loan, Trade payables, Amount owed to credit suppliers, Bank overdraft, Money borrowed when the bank account is overdrawn, Expenses payables, Expenses incurred (used) but not paid yet

Understanding LIABILITIES

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