[rajulukka]

What are the common journal entries on account Payables ?

[rajulukka]

Journal Entries on Account Payables ?

[morgaine300]

Accounts payables represents what you owe to others for goods and services. It does not include "special" items such as interest payable, salaries payable, income tax payable, etc.

Things that would be put on accounts payable would be things like goods (so inventory) and various expenses. And you will also have an entry at the time when the payables are paid at a later date.

It would be impossible to make a list of all entries that could be utilized with that account. I'm not sure why you are asking. I think it's a little bit a wrong way to think about it, to try to think of what entries would involve accounts payable, because the other account(s) used in the entry aren't relevant to the payables itself. It's used when you owe something or when you're paying for what you owed.

[morgaine300]

Please do not double post.