Question

discuss with the accounts payable supervisor whether any amounts included on the accounts payable list are due to related parties, debit balances, or notes payable.

Answer 1

A company's current responsibility for goods or services it purchased from suppliers on credit is known as accounts payable (AP). AP is a department and a job as well.

Which activity causes the accounts payable to increase?

In essence, an outstanding bill causes the accounts payable to grow, but paying the debt causes the accounts payable to decrease. You can improve the health of your cash flow by extending the time period for paying your bills.

What does it signify when there is just one ruled line beneath a column of figures?

You will be adding or subtracting the numbers above according to the single rule drawn under a column. "Drawing a double line" is the Double Rule. The amounts above are totals that are equal and there are no additional entries because of a double rule.

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