Accounts Payable is a liability. All payable accounts are considered a liability because it is something you owe another person/company.
yes, liability accounts are on the trial balance.
No, it is a Credit because Accounts payable is a Liability account.
liability
It is NOT, accounts payable is never considered a debit on any financial statement. Accounts Payable is a liability that a company owes and therefore must maintain a "credit" balance.
account payable increase on trial balance
yes, liability accounts are on the trial balance.
No, it is a Credit because Accounts payable is a Liability account.
liability
It is NOT, accounts payable is never considered a debit on any financial statement. Accounts Payable is a liability that a company owes and therefore must maintain a "credit" balance.
An account payable is a liability and would be considered a credit. Remember liabilities maintain a credit balance. Even when listing on the Trial Balance, all liabilities (including accounts payable) will be shown as their actual type, hence account payable is a credit.
account payable increase on trial balance
what is it best to receive before paying and invoice
what is it best to receive before paying and invoice
Debit
what is it best to receive before paying and invoice
debit balances
debit balances