On Monday, April 10, 2017, starting at 6:30 pm, at the Wallingford Town Hall, 75 School Street, Wallingford, the DRB will convene a Special Meeting to continue a Deliberative Session on Application 17-04 by MT Associates, dba Midway Oil Corp., for an illuminated wall sign.
In turn, the general ledger accounts receivable control account reflects the sum of the transactions in the subsidiary ledger, or a debit balance of $20,000. The accounts payable subsidiary ledger contains the accounts of each vendor that makes credit sales to the company. The sum of all vendor account balances in the accounts payable subsidiary ledger is equal to the balance of the general ledger accounts payable control account.
Interest payments on a note payable do not change the notes payable account, but they do reduce a companyâs cash flow because the company is using its cash. When a business makes an interest payment, it reports the amount as a cash outflow in the operating activities section of the cash flow statement. note payable is a debt that is established with a written agreement, such as a bank loan. The notes payable account in the liabilities section of the balance sheet represents the total amount a business owes on these particular debts.