Question

we settle the cash to trade payable. what is the double entry?​

Answer 1

Answer:

Accounts payable are amounts which are owed by a business to its suppliers for the purchase of trade goods or services, they are sometimes referred to as trade payables or trade creditors.

Answer 2

Answer:

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Explanation:

Accounts payable are amounts which are owed by a business to its suppliers for the purchase of trade goods or services, they are sometimes referred to as trade payables or trade creditors. Under normal circumstances, they are normally unsecured, and non-interest bearing

If a supplier allows a business credit terms and invoices for a product or service and allows payment to be made at a later date 30 days 60 days etc, the business is said to have purchased goods on account or on credit. While the business owes the supplier the money, the outstanding amount is classified as an accounts payable in the accounting records of the business.

Accounts payable are recorded in the balance sheet of the business under the heading of current liabilities, that means they are payable within a year.