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2. How Accounts Payable Are Recorded on a Balance Sheet - AOL

   www.aol.com/accounts-payable-recorded-balance...

   Accounts Payable vs. Accounts Receivable. At first glance, accounts payable and accounts receivable might seem similar. ... If you want to report an accounts payable in your balance sheet, use ...

3. General ledger - Wikipedia

   en.wikipedia.org/wiki/General_ledger

   The general ledger should include the date, description and balance or total amount for each account. Because each bookkeeping entry debits one account and credits another account in an equal amount, the double-entry bookkeeping system helps ensure that the general ledger is always in balance, thus maintaining the accounting equation:

4. Special journals - Wikipedia

   en.wikipedia.org/wiki/Special_journals

   For example, if fifty sales on account were made during one day, fifty ledger postings would have to be made to three general ledger accounts: Accounts Receivable, Sales, and Sale Tax Payable. In special journal, transactions are recorded in a single line, and the format of the journal made it possible to post only the total amount for each ...

5. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.

6. Financial accounting - Wikipedia

   en.wikipedia.org/wiki/Financial_accounting

   The statement can be used to help show the financial position of a company because liability accounts are external claims on the firm's assets while equity accounts are internal claims on the firm's assets. Accounting standards often set out a general format that companies are expected to follow when presenting their balance sheets.

7. Bookkeeping - Wikipedia

   en.wikipedia.org/wiki/Bookkeeping

   Separate account records are maintained for petty cash, accounts payable and accounts receivable, and other relevant transactions such as inventory and travel expenses. To save time and avoid the errors of manual calculations, single-entry bookkeeping can be done today with do-it-yourself bookkeeping software.