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Notes payable may be issued to creditors to satisfy accounts payable created earlier?
Wiki User
∙ 9y ago
True
Wiki User
∙ 9y ago
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Are creditors accounts payable or accounts receivable?
Accounts Payable
What stage of accounting is known as accounts payable?
Accounts payable is money owed by a company to its creditors.
What is accounts payable on a financial statement?
Sundry Creditors
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
Accounts Payable represents amounts owed to debtors True False?
False, Accounts payable represents the amount payable to creditors rather debtors which is called accounts receivable.
Are creditors accounts payable or accounts receivable?
Accounts Payable
What stage of accounting is known as accounts payable?
Accounts payable is money owed by a company to its creditors.
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 money owed to creditors called?
Accounts Payable
What is accounts payable on a financial statement?
Sundry Creditors
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
Accounts Payable represents amounts owed to debtors True False?
False, Accounts payable represents the amount payable to creditors rather debtors which is called accounts receivable.
What is a liability account?
Liability Accounts record obligations of a business towards its creditors. Examples of liability accounts are Accounts Payable, Interest Payable, Wages Payable. These accounts appear on the balance sheet.
What is the meaning of bills payable and what are the difference between bills payble and accounts payable?
Bill payable means that bill is issued for the clearence in future date. Bill payable is issued for a temporary sattlement to accounts payable. Accounts payable are the creditors of company and which creditors required amount in emergency basis company issue them the note to be used until the actual payment is cleared so bill payable is the temporary document of evidance that amount is owed by company to creditors and creditors can use that note to fulfil their financial needs.
What are Accounts Payable and Notes Payable?
Accounts payable are the amounts owed to a supplier that the buyer holds an account with. Notes payable is the amount owed to creditors, that is, suppliers that the buyer does not hold an account with.
Does debit to accounts payable represents cash paid to creditors?
yes it does
Is an accounts payable created when your company pays cash for a purchase?
An Accounts Payable is created when...
