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what catergorie does accounts payable belong to? income statement or statement of changes in owner equity or balance sheet. im...Asked by anonymous
what catergorie does accounts payable belong to? income statement or statement of changes in owner equity or balance sheet. im not sure but i think balance sheet.
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Answered by
SraJMcGin
You are correct! By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.
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Sra
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