current liability
Liabilities.
Accounts payables and salaries payable are part of current liability in balance sheet while current portion of mortgage notes payable is part ot current liability and remaining portion is part of long term liability.
Accounts payable and salaries payable both are part of current liability of balance sheet and shown there at liability side.
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
To increase the balance in an accounts payable ledger you credit the account.
Liabilities.
Accounts payables and salaries payable are part of current liability in balance sheet while current portion of mortgage notes payable is part ot current liability and remaining portion is part of long term liability.
Accounts payable and salaries payable both are part of current liability of balance sheet and shown there at liability side.
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
accounts payable is account in balance sheet
To increase the balance in an accounts payable ledger you credit the account.
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
yes accounts are payable on the income statement and balance sheet.
Accounts Payable is a liability so it should be a credit balance.
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
Accounts Payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.
Accounts payable balance will increase