The display of trade payables in the accounts higher than it actually is. We can save this account.1. payment, but not from a bank account. There are evidences of accounts recording receipts is able to update the account by. Accepted debit accounts payable Credit, bank deposits 2. the evidence is clear that there is no liability to the creditors. Credit notes can be improved by. Accepted debit accounts payable Credit/discount on retained earnings. There is evidence to raise debt from the creditor can update the account by. Accepted debit accounts payable Credit, debt/income from cancelled as retained earnings.
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