debit to Accounts Receivable and a credit to Sales Revenue.
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
Invoice a/c .. dr To cash a/c
i received goods but not invoice so i have not actually paid for my goods? help
Debit accounts receivableCredit sales revenue
Yes, it requires a journal entry as follows:debit cash / bank / assetscredit share capital
More than one debit or credit transaction is required to be recorded as compound journal entry for example:Debit furnituredebit buildingcredit cash / bank
Debit trick exp and credit accounts payable
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
I believe the answer is as follows: If payment not made : No action If payment made : Dr Purchases Cr Bank Can someone verify this? Thanks!
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.