If Vouchers Payable has been debited,it is most likely that:
A)the business took out a loan.
B)the business made a payment to a vendor.
C)a service was provided on account.
D)None of the above has occurred.

Question

Quizplus · Accepted Answer

When Vouchers Payable is debited, it typically means the business has made a payment to a vendor, reducing the amount owed. This is because a debit to a liability account, like Vouchers Payable, signifies a decrease in the amount the business owes.

If Vouchers Payable Has Been Debited,it Is Most Likely That