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What should the accounts payable department do if some goods from a purchase order are damage upon receipt and return to the supplier?
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What does the accounts payable department do?
The accounts payable is part of a company's accounting department. Accounts payable makes payments to outside firms that supplies it with a service or product.
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.
Is an accounts payable created when your company pays cash for a purchase?
An Accounts Payable is created when...
Three most important reports generated by the accounts payable department?
Three most important reports generated by the accounts payable department?
What causes accounts payable to increase or decrease?
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
What does the accounts payable department do?
The accounts payable is part of a company's accounting department. Accounts payable makes payments to outside firms that supplies it with a service or product.
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.
Is an accounts payable created when your company pays cash for a purchase?
An Accounts Payable is created when...
Three most important reports generated by the accounts payable department?
Three most important reports generated by the accounts payable department?
What is the description for an accounts payable position?
An accounts payable position is called a Purchase Ledger Clerk
What causes accounts payable to increase or decrease?
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
If some goods are damaged from a purchase order upon receipt the accounts payable department should receive a?
an invoice and debit memo
What will be the journal entry Accounts payable?
debit purchasescredit accounts payable
If a packing slip show a shorage the accounts payable dept should?
if some goods from a purchase order are damaged reciept return to the supplier, the a/p dept should
Does an accounts payable ledger contain all of the balance sheet and income statements accounts?
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.
What is the difference between Accounts Payable and Accounts Receivable?
Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. Accounts payable are liabilities. Accounts receivable are assets.
If a packing slip shows a shortage what should accounts payable do?
If the packing slip shows a shortage, the accounts payable department should send it back.
