A business paid $3,800 on account. The journal entry​ would:?

Answer 1

From the point of view of the business paying the amount.

DR: Accounts payable 3800
CR: Cash 3800

Answer 2

The journal entry would show that they made a payment on their account, reducing the total balance by the amount paid.

Answer 3

The company making the payment or the company receiving the payment?

Answer 4

On account means they didn't pay cash... they used a credit card, or promised to pay later. Use one of the current liability accounts.

Answer 5

What account?

Savings or checking?