No it's cash. Though it is in the form of a "check" it is easily transferred to cash and is recorded as such. Also, even if it wasn't considered cash (it is) it would be a receivable, not a payable.
Accounts payable
No
An increase in Accounts Payable means that the company has received more invoices that are due for payment. account payable increase on trial balance.When an item is purchased on credit accounts payable increases. For example if you purchase something for $250 on credit this is the entry to increase accounts payable. Purchases 250 Accounts Payable.
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
Item(specify the name) a/c dr. To Account Payable a/c (If the person is dealer in that goods which is purchased then debit purchases account and if an assest is purchased then debit the asset account).
Accounts payable
I received a cashiers check from a bank that was payable thru Wachovia. I took the check to a Wells Fargo and they stated that the check was deposit only. So I opened an account and the funds were available the next day, which was a Saturday.
At Chase, checks payable to cash are only negotiable by the account holder for the account the checks are written from.
No
A trade payable is another term referred to as an account payable. Most companies have an accounts payable department responsible for making sure money is paid to other parties that the company received a service from.
yes
An increase in Accounts Payable means that the company has received more invoices that are due for payment. account payable increase on trial balance.When an item is purchased on credit accounts payable increases. For example if you purchase something for $250 on credit this is the entry to increase accounts payable. Purchases 250 Accounts Payable.
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
Item(specify the name) a/c dr. To Account Payable a/c (If the person is dealer in that goods which is purchased then debit purchases account and if an assest is purchased then debit the asset account).
To clarify, I owe money at US Bank for a defaulted credit card with them. I have a TCF checking account. If I try to deposit a check made payable to me, and that check happens to be a US Bank check, can US Bank seize the check made payable to me even if I deposit it into my TCF checking account? Not sure if they will see that US Bank funds are made payable to me from someone else's account. Any insight would help! Thanks!
acoounting payable
account payable account debit to bank account