Comments for Vendor Invoiced But Now Does Not Want Payment And Checks Have Been Created

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Apr 08, 2011
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Reversing Entry
by: Stephanie

Hello,

I believe you should be able to reverse the original entry. So when you wrote the check to him you would have debited A/P and credited Bank as follows:

DEBIT A/P
CREDIT BANK

Therefore, you would post the refunds as:

DEBIT BANK
CREDIT A/P


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