I'm not exactly sure what you are asking, the journal entry for a cash payment to pay down an account payable is as follows:
Account Payable (debit) $$$$
Cash (credit) $$$$
Paying down an account payable is paying partial, so take for example you owe $1500 for a computer you purchased on account and you wish to pay $500 towards the balance. The Journal Entry would be.
Account Payable (debit) $500
Cash (credit) $500
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.
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
Account payable are a source of cash because when you increase your account payables, you are given credit on the assets you bought, which represent cash.
accounts payable
Accounts payable and Cash accounts
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.
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.
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.
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.
False. Payment of an accounts payable reduces cash and reduces accounts payable. Equity is not affected.
No actually... Cash paid to credits should credit cash account and debit payable account
No actually... Cash paid to credits should credit cash account and debit payable account
No actually... Cash paid to credits should credit cash account and debit payable account
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
Account payable are a source of cash because when you increase your account payables, you are given credit on the assets you bought, which represent cash.
accounts payable
Accounts payable and Cash accounts