Payment is of two types:-
The capital payments are the amount actually paid on account of some capital expenditures.
Some furniture is purchased from Wild Wood Furniture Store for $7,000 by paying cash $4,000 and promising to pay the balance within five months, $7,000 is a capital expenditure and $4,000 is a capital payment.
Revenue payments are the amount actually paid on account of some revenue expenditures.
Merchandise worth $1,300 are purchased from M/s John & Sons, by paying cash $800 and promising to pay the balance after 3 months, $1,300 is revenue expenditure and $800 is revenue payment.