Clerk Accounts Payable Interview Question:

Please explain what are the journal entries that will be passing from the Goods received till the payment made to supplier?

Submitted by: Muhammad

Goods Received Ware House
1.
Dr Inventory a/c
Cr GRNI a/c
2. Inv. Register in our system
Dr RI a/c
Cr Trade a/c
3. Receipts Matched/Approved
Dr GRNI a/c
Cr RI a/c
4. Inv. Paid
Dr Trade a/c
Cr Bank a/c
Submitted by: Muhammad