Question: explain the difference between accounts payable and notes payable and determine weather the following items are accounts payable or note payable a . an amount

explain the difference between accounts payable and notes payable and determine weather the following items are accounts payable or note payable a. an amount owed to a supplier for a purchase b. a written promise to pay $1000 within 90 days

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

explain the difference between accounts payable and notes payable and determine weather the following items are accounts payable or note payable a . an amount owed to a supplier for a purchase b . a...

Q:

Utld under l uld hold shou hold a check for the employ employ a leave of absence. oll process should be segregated to ensure t uld be under the control of the h at way to ensure the proper recording...

Q:

TIP: If a category is not affected by the transaction, enter 0 or leave the field blank. If the transaction affects two accounts in the same category, enter the positive amount in the first row. Use...

Q:

Problem 22-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY...

Q:

Problem 7-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY...

Q:

HI, I NEED HELP ONLY WITH PART 8, 9 & 10. THANK YOU The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet...

Q:

The cash payments and purchases journals for Silver Spring Landscaping Co. are shown below. The accounts payable control account has a June 1, 2008 balance of $2,940, consisting of an amount owed to...

Q:

Accounts Payable and Notes Payable Logan Company had the following transactions: \begin{tabular}{|l|l|} \hline April 8 & Issued a $4,800,75-day, 8% note payable in payment of an account with Bennett...

Q:

Problem 7-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY...

Q:

Hello, I only need help with the last few thanks The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March...

Q:

Reconsider Prob. 3.5-5. (a) Use MPL/Solvers to formulate and solve the model for this problem. (b) Use LINGO to formulate and solve this model. In problem Kilogram Kilogram Kilogram Minimum of of of...

Q:

During July 2013, the first month of the 2014 fiscal year, the City of Jackson issued the following purchase orders and contracts (see Problem 35): General government ...... $ 50,000 Public safety...

Q:

N , age 5 0 , recently bought an annuity that will pay a guaranteed $ 2 , 0 0 0 m o n th at age 7 0 for life. What type of annuity did N purchase? A Fixed Variable B . Fixed Period C . Fixed...

Q:

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...