Refunds in Case of Export of Goods. Typically these are the short-term debt that you. General Journal Definition Explanation Format Examples Finance Strategists Accounting Student Accounting Cycle Information And Communications Technology FYI creditors are also known as accounts payable or simply payables. . Eg The Indian Auto Parts IAP Ltd sold some truck parts to Mr. Since IAP has already incurred various expenses called the cost of goods sold Cost Of Goods Sold The Cost of Goods Sold COGS is the cumulative total of direct costs incurred for the goods or services sold including direct expenses like raw material direct. In the transaction our accounts receivables increased by 300 and our office supplies account decreased by 300. However in this article we will talk about accounts payable meaning accounts payable journal entry accounts payable process and accounts payable examples. StyleVisions bookkeeper creates an accoun