because you received cash, thus , the asset account increases: DR cash. This amount receiced and dercresed in fee erned (money paid for service) -> Cr Fee earned
Make sure that the customer account is credited and that cash is debited.
debit accrued expensescredit cash / bank
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
Accounts receivable
As an asset account, the accounts receivable (Sales Ledger Control) build up the debit side. So: First off, sales are credited the amount then the receivable account is debited the same amount. Once payment has been made then accounts receivable is credited and the bank is debited.
Make sure that the customer account is credited and that cash is debited.
debit accrued expensescredit cash / bank
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
Accounts receivable
Money received can be income, payment for services rendered, credit towards a debt, etc.
As an asset account, the accounts receivable (Sales Ledger Control) build up the debit side. So: First off, sales are credited the amount then the receivable account is debited the same amount. Once payment has been made then accounts receivable is credited and the bank is debited.
If you are the seller and recieve an advance payment from a customer, it means you are owing the customer and as much a creditor. Your cash is debited and the customer ( Customer's deposit account) credited;
Accounts payable
The following will increase: Expense and Revenue Accounts Cost of Goods Sold - Credited Sales Revenue - Credited Balance Sheet Accounts Assets Accounts Accounts Receivable or Cash depending on payment terms will be debited
Yes, generally a payment towards an account payable affects cash. Unless by some odd chance you are bordering "trading item for item" then you pay with cash. Cash will be credited the amount paid while the account payable will be debited the same amount.
The bank will show it as a recovery. The original loan was charged off to a allowance account for bad loans (contra asset). Banks fund this allowance by debiting provision expense (an expense item on the income statement) and crediting the allowance account (contra asset on the balance sheet). When a loan is charged off, the allowance is debited (reduced) and the loan balances are credited (reduced). When a recovery is recorded, cash is debited (assuming that is the form of payment by the borrower / guarantor) and the allowance is credited (increased). The loan is not rebooked once it has been written off. However, the bank records that the charge off has been recovered.
I sent a transfer of 50pounds with my details so i could put into a persons account but they not receive it