No, the Accounts Payable ledger only contains information related to supplier accounts. The balance sheet and income statement accounts are contained in the general ledger.
balance sheet
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 account in balance sheet
yes accounts are payable on the income statement and balance sheet.
Accounts Payable is a liability so it should be a credit balance.
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
To increase the balance in an accounts payable ledger you credit the account.
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
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.
1. As accounts payable is the liability of the company to be paid in future so in this way like all other liabilities accounts balance, accounts payable has also credit balance.
Accounts payable balance will increase
account payable increase on trial balance