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Paying off Accounts Payable not affect net income because it is charged to income statement already at time of purchases now it is just the payment of cash which charge cash only.
What else can I help you with?
Why paying off accounts payable and collecting accounts receivable do not affect net income?
i have the same question!
When paying on credit is that classified as accounts payable or receivable?
account payable
What accounts are affected when paying on account?
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
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.
How to write off account payable?
You can right off accounts payable by either: -Paying the balance, -Entering a credit memo against the open balance.
Why paying off accounts payable and collecting accounts receivable do not affect net income?
i have the same question!
When paying on credit is that classified as accounts payable or receivable?
account payable
What accounts are affected when paying on account?
When you pay on account, the entry is Cash - Debit Accounts Payable - Credit
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.
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.
What is Accounts Payable is considered on the Trial Balance.?
what is it best to receive before paying and invoice
Accounts Payable is considered a what on the Trial Balance.?
what is it best to receive before paying and invoice
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.
Accounts payable is considered a what on trial balance?
what is it best to receive before paying and invoice
How to write off account payable?
You can right off accounts payable by either: -Paying the balance, -Entering a credit memo against the open balance.
What has no effect on retained earnings?
A transaction that only affects asset and/or liability accounts would have no impact on Retained Earnings. Such as paying an Accounts Payable invoice or receiving payment of an Accounts Receivable.
