Thursday, December 15, 2011

How to record a payment to a creditor?

Where my business owed money to a creditor - when I pay off that creditor to I enter that transaction in the Gen. Journal or Cash payments journal?





This is regarding a purchase made on credit, which is paid at a later date - just wondering where I record the payment of the debt?|||That would initially be entered in the Cash payments journal and then be posted to the General Journal.

No comments:

Post a Comment