schedule of accounts payable lists the
Schedule of Accounts Payable
Lists the balances of accounts payable ledger, and Accounts Payable controlling account demonstrates the total amount owed to ALL creditors. These amounts should agree.
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state the term- purchases returns and allowancespurchases returns and allowances is the name of the account which provides better control of
determine about the debit memoranduma debit memorandum is the buyers written request to seller for credit individual account is debited to reduce the
state about the cash payments journala special journal used to record any payment of cash there would be a check number given to be recorded in
benefits of purchases discountspurchases discounts account is used to record discounts given for prompt paymentto prove accounts payable ledger you
schedule of accounts payable lists the balances of accounts payable ledger and accounts payable controlling account demonstrates the total amount
determine in brief about the sales activityjust as merchandizing businesses follow specific procedures to process and record purchases they follow
explain the terms of paymentrevolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basiscredit terms -
determine the terms of recording sales of merchandisethe sales account is a temporary account with a normal credit balance its only used to record
what is acounts receivable ledgerbusinesses have several customers and individual businesses arent assigned an account number they are just in
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