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View Full Version : Example were a decrease in one liability and an increase in another liability


amendez002
Apr 26, 2012, 11:44 AM
Journal entry were it shows a decrease in one liability and an increase in another liability

pready
Apr 26, 2012, 12:47 PM
One example would be if you owed a supplier on account and you signed a notes payable for your accounts payable.

Basically you exchanged an accounts payable for a notes payable.