Recording a payable after the invoice is matched with other documents requires which journal entry?
A) Debit to cash; credit to accounts payable
B) Debit to accounts payable; credit to unbilled payables
C) Debit to unbilled payables; credit to cash
D) Debit to unbilled payables; credit to accounts payable

Question

Quizplus · Accepted Answer

Once the invoice is matched with other documents, the payable amount becomes due and should be recorded in the accounts payable account. Since it was previously recorded in the unbilled payables account, it should now be transferred with a journal entry that debits unbilled payables and credits accounts payable.

Recording a Payable After the Invoice Is Matched with Other