FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Measuring Your Credit Capacity
Credit capacity means determining one’s ability to manage credit. The credit capacity of the individual or an organization is measured based on the details of the earnings, expenses, and previous debts. Credit capacity valuation is crucially required in …
Question

If we pay our suppliers for supplies that we had previously purchased, we will need to ____ Accounts Payable.

a.Debit 

b. Credit 

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