Office supplies purchased by Janer's Cleaning Service on account were returned. Debit Accounts Payable; credit Office Supplies is the entries for Janer's cleaning service records this transaction.
Accounts payable (AP) is the term used to describe the unpaid balances owed to suppliers or vendors for products or services supplied. The accounts payable balance on the balance sheet of the business represents the total of all unpaid sums owing to vendors.
The financial, administrative, and clerical support of a business is handled by the accounts payable department. They are in charge of tracking the company's short-term debts, paying vendor invoices or bills, and making payments the company owes to suppliers and other creditors.
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