Is “Payable” a Scrabble word?

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Yes
PAYABLE
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Payable

/ˈpeɪəbl̩/

noun
  1. 1.(in the plural) Debts owed by a business; liabilities.

  2. 2.(sometimes postpositive) A thing that may be paid.

adjective
  1. 1.Due to be paid.

    Is value-added tax payable on planning application fees?

  2. 2.Able to be paid.

  3. 3.Of a mine etc.: capable of yielding profit; profitable.