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Can a bank take money out of a private account to pay a business Credit Card dept?
Wiki User
∙ 11y ago
yes, but it defends on how much moneythey gonna use.
If you owe money & refuse to pay, unless you fight it in court, they will have their lawyers file a lawsuit against you. If you have reason to fight back, there are ways to do it & win. However, if you owe it, don't fight it, try to work it out & many times they will work with you -- if you are honest with them.
Wiki User
∙ 11y ago
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When the debtors account shows the credit balance?
When business receives money in advance....
Where can one obtain a merchant account credit card?
BluePay is a huge credit business that many businesses use and get information from to help pay and/or get money for their business. It is almost always businesses that obtain and use merchant account credit cards.
When you deposit money to 1 account is it a debit or a credit?
it is a credit. Depositing money into an account is putting money in.
Why the journal entry is debit when the owner withdraws money from the business account for personal use?
It is a debit because money is being taken from the account. You debit the owner's capital account and credit cash/bank.
Does Credit mean the increase side of an account?
what do you mean by increased side? it depends on which account you are talking. in bookeeping entries of a company a credit on its bank account means money going out the business. in a reserve account it means money being added to the reserves! If on the other hand you are talking about a bank account (personal) this normally means depositing.
When the debtors account shows the credit balance?
When business receives money in advance....
Where can one obtain a merchant account credit card?
BluePay is a huge credit business that many businesses use and get information from to help pay and/or get money for their business. It is almost always businesses that obtain and use merchant account credit cards.
When you deposit money to 1 account is it a debit or a credit?
it is a credit. Depositing money into an account is putting money in.
Why the journal entry is debit when the owner withdraws money from the business account for personal use?
It is a debit because money is being taken from the account. You debit the owner's capital account and credit cash/bank.
What is the purpose of a balance transfer credit card?
A balance transfer credit card is used to transfer your balance from one account (such as your personal account) to another account (such as a business account). This is the quick, hassle free way to move your money around.
Does Credit mean the increase side of an account?
what do you mean by increased side? it depends on which account you are talking. in bookeeping entries of a company a credit on its bank account means money going out the business. in a reserve account it means money being added to the reserves! If on the other hand you are talking about a bank account (personal) this normally means depositing.
Can a credit card that you had in your personal name but a lien on your corporate business account?
yes. the creditor can put a lien on anything that may be counted as your assets. if your corporate business account is one of your assets, the creditor can try to recover their money from that 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
Is a credit card the same as a debt card?
the debit is your own money from your account and the credit account is borrowed
How do you accept credit card payments?
In order to accept credit card payments from your business, you would need to open a merchant account with a credit card acceptance company. The merchant account will provide you with a solution for taking credit card payments as well as settling those transactions so that the money that you are owed can be taken from the customer and deposited into your business account. For more information on taking cards as a form of payment see these resources:
When I transfer money with my credit card what do you see on my credit card account?
no
What is the journal entry when the owner pays money from business to buy a truck?
[Debit] Truck account xxxx [Credit] Cash / bank xxxx
