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Topic: Business
Number of pages / Number of words: 4 / 1043
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This means that A/P is used only when the goods or services are bought on Credit and not against CASH.

Compound Entry – An entry that impacts more than one account on Balance Sheet. e.g. a transaction impacting CASH Bal, Asset, and A/P in one transaction on balance sheet.

Creditor – A person or entity to whom a company owes money...


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This means that A/P is used only when the goods or services are bought on Credit and not against CASH.

Compound Entry – An entry that impacts more than one account on Balance Sheet. e.g. a transaction impacting CASH Bal, Asset, and A/P in one transaction on balance sheet.

Creditor – A person or entity to whom a company owes money...


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