Debit (decrease) Accounts Payable and then credit (decrease) cash. Accounts receivables are the money that is owed to a business, accounts parables are the invoices or bills that a company has incurred and must pay to their vendors or suppliers. A/R Accounts.the accounts payable account is on the general ledger and is generally comprised of many smaller vendor accounts which are listed and tracked separately in the "accounts payable subsidiary ledger."
Account payable is a record of money your company owes to another company/person. Account receivable is a record of money owed to your company by another company/person.
debit: expense account credit: account payable (vendor)
it's a liability account, it is use to record the amount of money employer owe to employee
debit equipmentcredit accounts payable
A declared cash dividend is recorded by debiting the dividend account and crediting the dividend payable account.
Account payable is a record of money your company owes to another company/person. Account receivable is a record of money owed to your company by another company/person.
debit: expense account credit: account payable (vendor)
Accounts payable is created when goods purchased on credit so it records the credits that is how much amount payable to creditors.
it's a liability account, it is use to record the amount of money employer owe to employee
debit equipmentcredit accounts payable
cash------debit Account payable----Credit
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.
A declared cash dividend is recorded by debiting the dividend account and crediting the dividend payable account.
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
Rent PayableA payable account is any account that has a balance due that has not been paid yet. Say you owe $500 for one months rent, but want to record it on the books but not pay it, the journal entry would be:Rent Expense (debit) $500Rent Payable (credit) $500It's the same concept as with such payable accounts like, Income Tax Payable, Salary or Wages Payable, etc.Though it is very uncommon to record rent as a payable, usually it is recorded as prepaid (an asset) or as it is paid, not before.
To record employee contributions to the provident fund: Debit Provident Fund Expense and Credit Employee Contribution Payable. To record employer contributions: Debit Provident Fund Expense and Credit Employer Contribution Payable.
acoounting payable