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fo Big lots have any notes payable for the year 2012.
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∙ 10y ago
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Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
Discount on Notes Payable is a contra account to Notes Payable on the balance sheet?
true
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
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 notes payable an asset?
no
Interest due on a note payable?
soes big lot have any notes payable if so when are they due and what interest rate are they paying back.
What is the Notes payable journal entry?
Debit accounts payableCredit notes payable
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
How do you record journal entry to increase notes payable?
debit cashcredit notes payable
Discount on Notes Payable is a contra account to Notes Payable on the balance sheet?
true
What is notes payable?
The phrase notes payable is a result of a purchase made by a business and is a form of receipt.
What is the journal entry to discount notes payable?
debit cashdebit discount chargescredit notes payable account
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
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 notes payable an asset?
no
Which of Notes Payable Cash Interest Expense and Dividends are decreased with a debit?
Notes Payable - I hope that wasn't for an exam.
What is the difference between notes payable and trade payable?
The difference between trades payable and notes payable is based on the relationship with the business to which money is owed to. Trades payable is typically with a business' supplier while notes payable is usually with a bank. Their treatment in the cashflow statements also differs. With trades payable, the transaction is reported in the CFO (Cash flow from Operations) while notes payable under US GAAP is reported under CFF (Cash flow from financing).
