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The liability accounts and expense accounts are the only ones arranged alphabetically.
Accounts Payable is a liability. Accounts receivable is an asset.
Accounts receivable is a current asset, never a current liability.
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
Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.
The liability accounts and expense accounts are the only ones arranged alphabetically.
Accounts Payable is a liability. Accounts receivable is an asset.
Alphabetically within their own classification
Liability Accounts record obligations of a business towards its creditors. Examples of liability accounts are Accounts Payable, Interest Payable, Wages Payable. These accounts appear on the balance sheet.
Accounts receivable is a current asset, never a current liability.
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
Accounts payable is liability and fall under liability side of balance sheet.
Accounts payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.
Assets = Cash, Accounts Receivable, Supplies, etc. Liability =
An accrued liability
An accrued liability
Accounts payable is not a fixed asset rather it is a liability for company and shown in liability side of balance sheet.