In the Accounts payable journal does are advertising and repairs credits or debits?
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In the Accounts payable journal does are advertising and repairs credits or debits?
Accounts Payable is a liability and liabilities have normal credit balances.
The Accounts Payable Journal is a misnomer. It has to be Purchases journal or a Voucher Register.
Accounts payable represents a current liability and has a credit balance. Advertising and repairs are expenses and have debit balances. I am sure yo do know the basics of double entry principle.
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