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I'm not exactly sure what you are asking, the journal entry for a cash payment to pay down an account payable is as follows:
Account Payable (debit) $$$$
Cash (credit) $$$$
Paying down an account payable is paying partial, so take for example you owe $1500 for a computer you purchased on account and you wish to pay $500 towards the balance. The Journal Entry would be.
Account Payable (debit) $500
Cash (credit) $500
What else can I help you with?
Cash paid to creditors represents what to 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.
What is the journal entry for paid back a portion of the accounts payable?
To record the payment of a portion of accounts payable, the journal entry would debit the Accounts Payable account to decrease the liability and credit the Cash account to reflect the cash outflow. For example, if $1,000 of accounts payable is paid, the entry would be: Debit: Accounts Payable $1,000 Credit: Cash $1,000 This entry reduces both the outstanding liability and the cash balance.
What accounts are affected when paying on account?
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
Why do accounts payable provide a source of cash?
Account payable are a source of cash because when you increase your account payables, you are given credit on the assets you bought, which represent cash.
What account is credited when recording the cash purchase of a product?
accounts payable
What to accounts payable represents account paid to creditors?
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.
Cash paid to creditors represents what to 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.
What represents cash paid to creditors to Accounts 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.
What to accounts payable represents cash paid to creditors?
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.
When an accounts payable account is paid in cash the owner's equity in the business decreases True or False?
False. Payment of an accounts payable reduces cash and reduces accounts payable. Equity is not affected.
Does a credit to accounts payable represent cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does a credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
What is the journal entry for paid back a portion of the accounts payable?
To record the payment of a portion of accounts payable, the journal entry would debit the Accounts Payable account to decrease the liability and credit the Cash account to reflect the cash outflow. For example, if $1,000 of accounts payable is paid, the entry would be: Debit: Accounts Payable $1,000 Credit: Cash $1,000 This entry reduces both the outstanding liability and the cash balance.
What accounts are affected when paying on account?
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
Why do accounts payable provide a source of cash?
Account payable are a source of cash because when you increase your account payables, you are given credit on the assets you bought, which represent cash.
What account is credited when recording the cash purchase of a product?
accounts payable
