ACCOUNT
PAYABLE
Accounts
payable is a liability to pay a company to other parties due to the
presence of transaction purchase of goods or services on credit.
Accounts
payable put in the purchase journal ( when purchase of goods on credit ), in
cash payment journal ( when the repayment of account payable ), in the general
journal ( when purchase return ).
Examples
accounts payable transaction a company :
May 12,
2010: Bought Office supplies by credit from the SEKAWAN Store Rp
1.500.000,- Record in a journal :
Office
supplies
Rp 1.500.000,-
Accounts
payable
Rp 1.500.000,-
payment terms
for credit purchases:
·
n/30; invoice price terms must be repaid no later
than 30 days after the delivery of the goods and the amount payable is the
amount specified in the final invoice.
· 2/10;
this condition the purchaser will be given a 2% cut in the price it pays the
invoice at the latest 10 days after the date of the transaction, while the
slowest payer time is 30 days. 2 = (numerator) means that the magnitude of the
percentage of pieces, 10 = (the denominator) means a time limit to get the
pieces and n/30 = the deadline for payment of invoices.
· EOM
(End Of Month); invoice price on condition that must be repaid at the latest at
the end of the month.
· n/10
EOM; the terms of this invoice price must be repaid no later than 10 days after
the end of the month, without getting the pieces together.
