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    adammonger's Avatar
    adammonger Posts: 1, Reputation: 1
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    #1

    Nov 9, 2009, 05:06 AM
    Financial Statements for ongoing companies
    When making Financial Statements for ongoing companies with Accounts payable and Receievabale where should the balances be included
    haider78605's Avatar
    haider78605 Posts: 61, Reputation: 1
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    #2

    Nov 9, 2009, 10:44 AM

    AnswerThe balances of Accounts recievables comes at the debit side in Current Assets and the A/P needs to be put into Current liabilites in Credit side .
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