Will somebody be able to send me the accounts payables related journal entries to my email "[email protected]" along with a short answer in this site...

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Originally Posted by ramkumarsss

will somebody be able to send me the accounts payables related journal entries to my email "[email protected]" along with a short answer in this site...

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Ummm is it just me or does this not make any sense at all.

When you purchase something on account: Debit Appropriate account and Credit Accounts Payable

When you make a payment: Debit Accounts Payable and Credit Cash

If you make a payment within a discount period: Debit Accounts Payable for the full amount, Credit Cash for the amount paid and Credit Purchases Discount for the difference.

If there is a return: Debit Accounts Payable for the amount returned and Credit Purchase returns & Allowances for the amount.