On A Company's Trial Balance What Are The Accounts Payable Credit Or Debit
On a Company’s B usiness Trial Balance , the Accounts Payable or Creditor Account should be credited as it is a Current Liability Account under the head of Liabilities . The normal or favourable balance of a liability account is always credit. However, when it is paid off it is debited. So, when we created Accounts Payable as we purchased goods from our supplier on credit, we Credit Account Payable account and debited Purchases Account .