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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.

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Magali Rodriguez

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โˆ™ 2022-05-09 20:50:12
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Which stage of disbursement accounting is also known as the accounts payable stage

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โˆ™ 2013-11-23 20:46:54

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.

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โˆ™ 2012-03-16 10:36:56

Accounts payable is a credit balance, because that is how much you owe to another company.

Accounts receivable (the amount you will receive from another company) is a debit balance.

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โˆ™ 2009-01-10 14:19:48

Accounts Payable has a credit balance.

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Q: Is accounts payable a debit or credit?
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