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Are creditors accounts payable or accounts receivable?
Accounts Payable
Who is responsible for posting authorized credits to accounts payable?
Accounts Payable clerk
How do you get weighted average for accounts payable?
Weighted Average Accounts payable = Opening period accounts payable + closing period accounts payable divided by 2 Example: Opening Accounts payable = 10000 Closing accounts payable = 20000 Average = 30000/2 = 15000
What is the antonym of accounts payable?
Accounts receivable is the term for amounts due, while accounts payable are owed.While this is the "opposite" of accounts payable, it is NOT an antonym.
Are accounts payable accounts that you expect will be paid to you?
are accounts payable accounts that expect will be paid to u
What causes accounts payable to increase or decrease?
When an item is purchased on credit accounts payable increases. For example if you purchase something for $250 on credit this is the entry to increase accounts payable. Purchases 250 Accounts Payable 250 When you pay for your purchases it will decrease accounts payable. Accounts Payable 250 Cash 250
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
What are accounts payable entries?
[Debit] Accounts payable [Credit] Cash / bank
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
What does the accounts payable department do?
The accounts payable is part of a company's accounting department. Accounts payable makes payments to outside firms that supplies it with a service or product.
Is an accounts payable created when your company pays cash for a purchase?
An Accounts Payable is created when...
When a credit is posted to the accounts payable ledger what happens?
Accounts payable balance will increase
