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Does a credit to accounts payable represent cash paid to creditors?
Wiki User
∙ 13y ago
No actually... Cash paid to credits should credit cash account and debit payable account
Wiki User
∙ 13y ago
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What is the journal entry when cheque issued to creditors is dishonoured?
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
Does a credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Journal entry for credit purchase?
[Debit] Purchases[Credit] Accounts payable
Does an account payable ledger record credits or debits?
Accounts payable is created when goods purchased on credit so it records the credits that is how much amount payable to creditors.
What to accounts payable represents account paid to creditors?
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
What represents cash paid to creditors to Accounts Payable?
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
What to accounts payable represents cash paid to creditors?
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
What is the Difference between account payable and sundry creditors?
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance sheet.
How does accounts payable decrease cash flow?
Example: Accounts payable balance = 1000 Cash Balance = 1000 Transaction 100 paid to creditors from cash Journal Entry [Debit] Accounts payable 100 [Credit] Cash 100 New Accounts balances Accounts payable 900 Cash 900
Cash paid to creditors represents what to Account payable?
It represents you paying all of your credits or loans... meaning, you used your cash to pay for your loans(accounts payable). And this will make cash a Credit and Accounts Payable Debit. Basically using cash to deduct your account payable.
Difference between accounts payable and creditors?
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance...account receivable- money coming in for profit account payble-money going out for a expense .Accounts payable refers to liabilities owed to creditors from whom you've made a purchase. Notes payable refer to liabilities owed to investors from whom you've borrowed money by issuing a debt...
