von 1 ahmed | Jan. 24, 2024 | Bookkeeping
Non-Current liabilities are the obligations of a company that are supposed to be paid or settled on a long-term basis, generally more than a year. It is possible to have a negative liability, which arises when a company pays more than the amount of a liability,...
von 1 ahmed | Juli 5, 2023 | Bookkeeping
Under periodic inventory system, the company needs to make the purchase discount journal entry by debiting accounts payable and crediting cash account and purchase discounts. Paying attention to the discount period in purchase discounts is important because it allows...
