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.
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
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, Accounts payable represents the amount payable to creditors rather debtors which is called accounts receivable.
yes it does
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.
Accounts Payable releted to Creditors and Bills payable releted to bank.
Accounts Payable
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.
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx