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No actually... Cash paid to credits should credit cash account and debit payable account
What else can I help you with?
Does credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
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 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 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.
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.
What is the journal entry when cheque issued to creditors is dishonoured?
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
What is a credit to accounts payable represent?
A credit to accounts payable represents a reduction in the company's obligations to pay its suppliers or creditors. It indicates that the business has either made a payment, received a discount, or returned goods, thereby decreasing its outstanding liabilities. This entry serves to adjust the accounts payable balance downward, reflecting a more accurate financial position.
A what to AP represents cash paid to creditors?
In accounting, "Accounts Payable" (AP) represents the amount a company owes to its creditors for purchases made on credit. When cash is paid to settle these liabilities, it decreases both the cash balance and the accounts payable balance on the company's balance sheet. Essentially, cash paid to creditors reduces outstanding debts, reflecting the company's commitment to meet its financial obligations.
Does a credit to accounts payable represent 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 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.
