A business makes a cash payment to a supplier 'on credit' (for supplies that were purchased earlier).Which account is debited?

Question

Quizplus · Accepted Answer

When a business makes a cash payment to a supplier on credit, it means that the business had purchased supplies or services earlier and had recorded it as accounts payable. Therefore, when the business makes a cash payment, the accounts payable account is debited to reduce the liability.

A Business Makes a Cash Payment to a Supplier 'On