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When a payment is made to a supplier for goods previously purchased on account, what is the debit to?

liability account
expense account
an owner's equity account

2006-10-30 06:29:04 · 3 answers · asked by thefishbag 2 in Business & Finance ➔ Small Business

3 answers

liability account

2006-10-30 06:32:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋

none, it is an asset so debit to Cash.

2006-10-30 14:31:06 · answer #2 · answered by Mathew C 5 · 0⤊ 0⤋

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