The Accounts Payable account is:
A)a capital,and it has a normal debit balance.
B)an expense,and it has a normal credit balance.
C)a liability,and it has a normal debit balance.
D)a liability,and it has a normal credit balance.

Question

Quizplus · Accepted Answer

Accounts Payable is a liability account that records the amounts owed to vendors or suppliers for goods and services purchased on credit. It has a normal credit balance, meaning that when a payment is made to reduce the amount owed, the Accounts Payable account is credited.

The Accounts Payable Account Is