It is a debit from the company side it is always a debit and when you pay out cash it is a credit
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
debit a/r credit cash
[Debit] Drawing account [Credit] Cash account [Debit] Owners capital [Credit] Drawing account
why do you debit cash account and credit receivables for cash in transit
[Debit] Petty Cash account [Credit] Cash account
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
Cash account has a debit as a normal balance so debit increases the cash account and credit reduces the cash account which is reverse of debit balance.
debit a/r credit cash
[Debit] Drawing account [Credit] Cash account [Debit] Owners capital [Credit] Drawing account
why do you debit cash account and credit receivables for cash in transit
[Debit] Building account [Credit] Cash / bank
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
[Debit] Petty Cash account [Credit] Cash account
Capital is a Credit Balance account. To increase capital and therefore increase OE, you will Credit the account. Not DEBIT. You Debit Cash, Credit Capital.
yes. the entry should be: petty cash fund debit cash in bank credit
[Debit] Petty Cash account [Credit] Cash account
Credit to cash, debit to the liability account for the mortgage.