Answered Questions
Journal entries-accounts payable process
Asked By: Sathyaswarna.t
| Asked On: Oct 11th, 2009
What are the journal entries that will be passing from the goods received till the payment made to an supplier?
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NH
NH
dep a/c dr
to machinery account
Entries in Accounts payable process:
Inventry A/c Dr
To GR / IR A/c
(Being Goods received)
GR / IR A/c Dr
To Vendor A/c
(Being invoice received)
Vendor A/cDr
To Bank A/c
(Being payment made)