Account Payable Account

by Evelyn
(New York)

Account Payable Account

Account Payable Account

How do you remove an account payable with a balance from a computer program? This account was entered in a business account. However, it is a personal account and should not have been included. To remove this account, I would have to debit it, but what account would I credit?

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Dec 05, 2017
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Remove A/P Balance
by: Anonymous

I think you would debit A/P to decrease and remove the balance from Accounts Payable and you would credit Owners Draw to account for the personal transaction.

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