If Accounts Payable has been credited,it is most likely that:
A)a payment was made on account.
B)a purchase was made on account.
C)a correcting entry was made for the overstatement of the purchase of equipment on account.
D)a customer paid a bill on account.

Question

Quizplus · Accepted Answer

When Accounts Payable is credited, it typically indicates that a liability has been incurred, such as when a purchase is made on account.

If Accounts Payable Has Been Credited,it Is Most Likely That