Accounts Payable T Account
Here we will study about Accounts Payable T Account or Ledger in Accounting. You may also be interested in “ Accounts Receivable T Account or Co ntrol Ledger ” As we already know that Accounts Payable or Creditor is the amount payable by the business to suppliers or creditors for the goods purchased of credit basis or received services on account. It is the Current Liability as it is payable the business during the Accounting Cycle or Current Accounting Period. Accounts Payable T Account or Control Ledger is the account in which all the Business Transactions related to Accounts Payable / Creditor are fi nally recorded after transferring Accounting Journal Entries from Each Individual Suppliers or Accounts Payable Subsidiary Journal to Accounts Payable Subsidiary Subledgers or Subsidiary Ledgers at the end of accounting period. For the New Entrepreneur , ...