Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 11 - No. 44)
For a direct debit from our bank current account to pay a trade payable
Debit trade payable account. Impact: trade payable are decreased.
Credit trade payable account. Impact: cash in bank is increased.
Debit cash account, Credit bank account.
Debit bank account, Credit expense account.
Explanation
Debit trade payable account. Impact: trade payable are decreased.
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