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Month: February 2021
Understanding Accounts Payable AP With Examples and How To Record AP
The terms of the purchase dictate that ABC Furniture Company has 30 days to make the payment. This helps in maintaining an accurate representation of the company’s liabilities on its balance sheet. Recording Accounts Payable is an essential aspect of accurate financial accounting. Once approved, the payment is ready for execution. Suppose paper invoices aren’t scanned into the ERP…