The Accounts Payable account is
A) a revenue, and it has a normal debit balance.
B) an expense, and it has a normal credit balance.
C) a liability, and it has a normal debit balance.
D) a liability, and it has a normal credit balance.

Question

Quizplus · Accepted Answer

Accounts Payable is a liability account which represents amounts owed to vendors or suppliers for goods or services received on credit. As it represents a liability, it has a normal credit balance.

The Accounts Payable Account Is