Posted by: maxpayne August 3, 2020
Confused by this statement
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You're thinking opposite. You reduced your liability by paying from your account. That's why it's a debit. (similar to your regular bank transcations).

Ac payable is credit because you reduced liability.
(Similar to your credit card payments) look at those statements as a example.
Last edited: 03-Aug-20 03:43 PM
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