Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 4 - No. 26)
How to record regular payment of the balance outstanding to suppliers?
Debit Purchases, Credit Bank.
Debit Bank, Credit Purchases.
Debit Bank, Credit Trade Payables.
Debit Trade Payables, Credit Bank.
Explanation
To make regular payments to suppliers, debit Trade Payables, and credit Bank.
Comments (0)
