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YouTubeDr. Brian Routh | Professor | Expert Bookkeeper
Accounts Payable Explained Step by Step
📘 What happens in the accounting records when a business receives a purchase now but pays the vendor later? In this step-by-step example, Dr. Brian Routh explains how a $1,200 supply purchase creates accounts payable and what happens when the bill is eventually paid. The original purchase records the asset and the amount owed. The later ...
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Accounts Receivable vs Accounts Payable: 👉 FOLLOW @brianferoldi for more content Like this visual? Grab a FREE copy of my accounting ebook (link in bio) What's the difference? ACCOUNTS RECEIVABLE 💰 → The amount of money customers owe the company. Location: Current Asset on Balance Sheet Offset: Allowance for doubtful account Types: Trade Receivables, Notes Receivable Cause: Created when the company sells goods or services on credit Action: Money to be collected Accountability: Lies with the de
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