Restaurant
Purchase of Raw Ingredients (On Credit)
Receiving a weekly delivery of ingredients from a supplier with a 30-day payment term.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Food & Beverage Inventory | Asset (+) | 2,000.00 | - |
| Accounts Payable (Supplier) | Liability (+) | - | 2,000.00 |
💡 Accountant's Note
Purchasing on credit creates a liability. The inventory is an asset the moment it arrives at the restaurant, regardless of when you pay for it.
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