Making payments to the people to whom you owe money. Or perhaps, you've had a debt forgiven for some reason, this would also reduce the Accounts Payable (not too likely that this will happen though)
decreases the liability.
Accounts payable is a short-term liability representing cash owed to vendors. When a company is invoiced by a vendor, accounts payable is increased. When payment is rendered, the accounts payable balance decreases.
no it just decreases cash
Accounts Payable
Accounts Payable clerk
decreases the liability.
False. Payment of an accounts payable reduces cash and reduces accounts payable. Equity is not affected.
Accounts payable is a short-term liability representing cash owed to vendors. When a company is invoiced by a vendor, accounts payable is increased. When payment is rendered, the accounts payable balance decreases.
no it just decreases cash
Accounts Payable
Accounts Payable clerk
Weighted Average Accounts payable = Opening period accounts payable + closing period accounts payable divided by 2 Example: Opening Accounts payable = 10000 Closing accounts payable = 20000 Average = 30000/2 = 15000
Accounts receivable is the term for amounts due, while accounts payable are owed.While this is the "opposite" of accounts payable, it is NOT an antonym.
are accounts payable accounts that expect will be paid to u
When an item is purchased on credit accounts payable increases. For example if you purchase something for $250 on credit this is the entry to increase accounts payable. Purchases 250 Accounts Payable 250 When you pay for your purchases it will decrease accounts payable. Accounts Payable 250 Cash 250
Accounts Payable is a liability. Accounts receivable is an asset.
Yes Accounts payable is a variable cost.