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Accounts payable is considered a what on trial balance credit or debit?
An account payable is a liability and would be considered a credit. Remember liabilities maintain a credit balance. Even when listing on the Trial Balance, all liabilities (including accounts payable) will be shown as their actual type, hence account payable is a credit.
Is Accounts Payable considered a debit on the Trial Balance?
No, it is a Credit because Accounts payable is a Liability account.
Why is Accounts payable considered a debit on trial balance?
It is NOT, accounts payable is never considered a debit on any financial statement. Accounts Payable is a liability that a company owes and therefore must maintain a "credit" balance.
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
Are accounts payable a credit or debit?
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
Is accounts payable a debit or credit?
Accounts Payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.
When a credit is posted to the accounts payable ledger what happens?
Accounts payable balance will increase
Is accounts payable a debit or creit balance account?
Accounts Payable is a liability so it should be a credit balance.
To increase the balance in an accounts payable ledger?
To increase the balance in an accounts payable ledger you credit the account.
Does a debit memo increase or decrease a accounts payable balance?
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
What is trail balance for accounts payable?
credit side
WHAT is normal balance of accounts payable?
credit balances
