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Accounts receivable is a debit.
Answer:
Accounts receivable is an asset and therefore maintains a debit balance. This is an account listing what a person or company owes you, or money that you expect to receive. Since it is an asset (all assets maintain a debit balance) it means to increase the account you debit it and to decrease it (when a payment is made by the customer) you credit it.
Assets = debit balance (increase with debit, decrease with credit)
Liabilities and Owners Equity = credit balance (increase with a credit, decrease with a debit)
(GAAP)
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Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
Are accounts receivable a debit or credit on trial balance sheet?
Debit
How do you enter rent received and rent receivable in accounts?
Journal Entry for Rent Received:[Debit] Rent Received[Credit] Cash/bankJournal entry for rent receivable[Debit] Accounts Receivable[Credit] Rent Receivable
What is the Journal entry for a customer returning merchandise delivered in poor condition?
[Debit] Sales returns [Credit] Accounts receivable
Does accounts receivalbe carry a credit or debit balance?
Accounts receivable is an asset of company and like all other assets accounts accounts receivable also has debit balance.
Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
What is the double entry for sale?
Cash/Bank/Accounts Receivable [Debit] Sales[Credit]
Are accounts receivable a debit or credit on trial balance sheet?
Debit
What would the adjusted entry be for product sold on credit?
When product sold:[Debit] Accounts receivable[Credit] Sales revenueAdjusted Entry:[Debit] Cash / bank[Credit] Accounts receivable
How do you enter rent received and rent receivable in accounts?
Journal Entry for Rent Received:[Debit] Rent Received[Credit] Cash/bankJournal entry for rent receivable[Debit] Accounts Receivable[Credit] Rent Receivable
What is the Journal entry for a customer returning merchandise delivered in poor condition?
[Debit] Sales returns [Credit] Accounts receivable
Does accounts receivalbe carry a credit or debit balance?
Accounts receivable is an asset of company and like all other assets accounts accounts receivable also has debit balance.
What to debit after increasinf accounts receivable?
the debit will be to the accounts receivable because a debit increases it. the offset account in this entry is usually a revenue account. so therefore a credit to revenue.
What is the journal entry when the owner withdraws money from the business account for personal use?
debit drawingscredit cashDebit - Accounts Receivable - Owner Credit - Cash
How do you record Accounts Receiveable?
[Debit] Accounts receivable xxxx [Credit] Sales revenue xxxx
What accounts are affected when services are provided on account?
Accounts Receivable - Debit Service Revenue - Credit
What is credit sale entry?
[Debit] Accounts Receivable xxxx [Credit] Sales account xxxx
