What are the accounting entries in p2p cycle??

Answer Posted / sagar

At the time of receipt:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Receiving inventory a/c dr
to
Inventory AP Acurral a/c

At the time of invoice
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Inventory AP Accural a/c dr
to
AP Liability a/c cr

At the time of payment
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

AP Liability a/c dr
to
Cash a/c cr

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