On the balance sheet is accounts payable debit or credit for the month end closing? Why?

2 Answers

  • 7 months ago
    Favorite Answer

    Accounts Payable is a normal credit balance. It represents amounts owed to various vendors for purchases of inventory and/or services, and as such is a liability account.

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  • Eva
    Lv 4
    7 months ago

    Credit. It's a liability.

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