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The journal entry is as follows:
[Debit] Accounts Receivable XXXX
[Credit] Land XXXX
This entry is only affecting the balance sheet accounts by decreasing one asset account and increasing another asset account.
When cash is received, the journal entry is as follows:
[Debit] Cash/Bank XXXX
[Credit] Accounts receivable XXXX
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How do you record journal entry of SALE land on credit?
debit accounts receivablecredit land account
What you mean by account?
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
How to record journal entries for gold mining purchase?
Debit Land Discount on Notes Payable Credit Notes Payable
Is land a credit or debit?
Debit - expense or asset Credit - income or liability As land is an asset, it is a debit entry with the credit being to Bank/Cash/Sellor of the land
Why some authors says that sales are nominal account?
no sales is not a nominal account. because nominal account says" debit all expenses and credit all income and gain account. " all things which are tangible is call real account. u can touch the goods..Land and Buildings; and Office Machinery A nominal account is account for income and expenses e.g Rent and rates account or subscription account.
How do you remove a satisfied judgment from the title of your property?
You record a release of the lien. The evidence of the lien and its release stay on record forever. Obtain a copy of the release from the court and then send it to each of the credit reporting companies. Eventually, they will place a paid note onto your record. Keep the copy with your permanent records. Clarification: Credit reporting companies do not release the lien in the land records. In addition to notifying them that the judgment is satisfied you must arrange to have the release recorded in the land records. The recording of the release will clear the title to your property.
Who is the record holder of the current land speed record?
== Usain Bolt holds the current land speed record. He is the fastest man alive. == Andy Green - http://en.wikipedia.org/wiki/Andy_Green
What is the 2007 land speed record?
The current ultimate land speed record was set in 1997 at 763 mph.
What is the land record speed for 2008?
The current ultimate land speed record was set in 1997 at 763 mph.
What is the land speed record in 2009?
The current ultimate land speed record was set in 1997 at 763 mph.
When was Land Speed Record - album - created?
Land Speed Record - album - was created on 1981-08-15.
When was Wheel-driven land speed record created?
Wheel-driven land speed record was created in 1964.
