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Cash account Dr Bank account Cr
there should be increase in any other asset or decrease in liability or decrease in owners equity to balance.
My account balance in Construction LOC is $154833.00; what is the journal entry to record the $154833 in Construction in Progress Account? roger_randolph@yahoo.com
Debit bank accountCredit cash
In order to answer this question, you would need to know the amounts that were originally provided in the account balance and the ones that were booked in the ledger.
Cash account Dr Bank account Cr
there should be increase in any other asset or decrease in liability or decrease in owners equity to balance.
The Journal-Register was created in 1821.
My account balance in Construction LOC is $154833.00; what is the journal entry to record the $154833 in Construction in Progress Account? roger_randolph@yahoo.com
Debit bank accountCredit cash
The State Journal-Register was created in 1831.
In order to answer this question, you would need to know the amounts that were originally provided in the account balance and the ones that were booked in the ledger.
Posting the entries to create a Trial Balance.
Balance of drawing account is write off against owners capital at the end of fiscal year. Journal entry is as follows: [Debit] Owners capital [credit] Drawings account
Any journal has to balance.
When a transaction occurs, a journal entry is made coinciding with this transaction. Later these transactions are posted from the journal to the ledger, then a trial balance is made to insure that the accounts are accurate and "balance".
The answer is in your question actually. If you received cash on account the asset of CASH will increase, while the asset of Account Receivable will decrease.Since you received cash it is assumed that they paid you cash on a balance that they owed you, so the journal entry would be a debit to cash (increase) and a credit to accounts receivable (decrease)