Accounting MascotAccounting Q&A

Purchases made which will be paid later are called?
submitted by edna

Delia

Accounts payable.

Dorkon

Credit purchases.

Dave

Liability expense.

Abubakar yusuf nadabo

Are called accrued expenses

Rai

These are called "Credit Purchases" . It is liability on business concern and will be written as "Account Payable"
Example:
Purchase goods on credit worth 5.000.
Purchases 5,000
Account Payable 5,000.

tina

purchases payable

Linda

Purchases payable

Viola Solo

A/P

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