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Name Date THE ACCOUNTS PAYABLE LEDGER Objectives After completing this chapter, you should be able to:1. Post journal entries to the accounts payable ledger. 2. Prepare a schedule of accounts payable.
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Payable ledger is a record of all the outstanding payments that a company owes to its suppliers or vendors.
Businesses or organizations that have outstanding payments to suppliers or vendors are required to file payable ledger.
Payable ledger can be filled out by recording all the details of the outstanding payments, including the amount owed, the vendor's name, and the payment due date.
The purpose of payable ledger is to keep track of all outstanding payments and to ensure that they are paid in a timely manner.
Information such as the amount owed, vendor name, payment due date, and any terms or conditions related to the payment must be reported on payable ledger.
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