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  • Nov 2, 2009, 05:13 PM
    Lindsie G
    Accounts payable journal
    In the Accounts payable journal does are advertising and repairs credits or debits?
  • Nov 3, 2009, 12:00 AM
    decisionsupport

    Accounts Payable is a liability and liabilities have normal credit balances.
  • Nov 3, 2009, 05:20 AM
    rehmanvohra
    Quote:

    Originally Posted by Lindsie G View Post
    In the Accounts payable journal does are advertising and repairs credits or debits?

    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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