In accounting when you purchase something what do you credit and what do you debit? Account Payable, Accounts Receivable or Purchases account?|||Accounts payable when you debit something or pay for an item.
accounts receivable when you credit something to your business.
When you get money from someone.
When you receive money
/|||Ok, if you purchase something outright I would say that is under your purchases account. Now if you use credit (pay later/installments) I would say accounts payable. Accounts receivable is when you are owed.|||When you purchase you would debit Purchase Account and credit Accounts Payable or Cash.|||Purchases account