0
Does money automatically come out of your bank account when paying for goods with a debit card?
Wiki User
∙ 11y ago
Of course it does and quickly. The days are gone when you could, for example, write a check and count on it taking days to be cashed and have your account debited. If you don't have funds in the debit card account you might also have to pay a fee for using the card. It's all spelled out in the agreement the bank gave you.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the journal entry for goods return?
If sales goods returned: [Debit] Sales account xxxx [Credit] Sales Return account xxxx if purchase goods returned: [Debit] Purchase return xxxx [Credit] Purchases account xxxx
How do you account for goods received and invoice received?
Goods Received: Debit Stock Credit Goods Received Invoice Received: Debit Goods Received Credit Trade Payables Result: Debit Stock (Asset) Credit Trade Payables (Liability)
Journal entry for consignment?
Debit goods send for consignmentCredit consignment account
What type of balance is the finished goods account have a debit or credit?
credit bal
What is the journal entry for Goods taken away by the proprietor for his personal use Rs 2000?
debit drawings account 2000credit goods account 2000
What is the journal entry for purchasing goods on cash does goods account exist?
Debit goods purchasedCredit cashYes goods account is called "Inventory" account
In accounting what is the rule for entering in the ledger?
Debit an account that has received goods or money; and credit account that has given goods
What is the journal entry for goods return?
If sales goods returned: [Debit] Sales account xxxx [Credit] Sales Return account xxxx if purchase goods returned: [Debit] Purchase return xxxx [Credit] Purchases account xxxx
Returned damaged goods to supplier- what debit and credit account?
When you have returned damaged goods then you will need to credit accounts receivable and debit accounts payable. This will decrease your revenue for the account.
How do you account for goods received and invoice received?
Goods Received: Debit Stock Credit Goods Received Invoice Received: Debit Goods Received Credit Trade Payables Result: Debit Stock (Asset) Credit Trade Payables (Liability)
Journal entry for consignment?
Debit goods send for consignmentCredit consignment account
What type of balance is the finished goods account have a debit or credit?
credit bal
What is the journal entry for Goods taken away by the proprietor for his personal use Rs 2000?
debit drawings account 2000credit goods account 2000
What is the journl entry for puchasing goods on account?
[Debit] Purchases [Credit] Accounts payable
What is the journal entrie for purchase on account?
[Debit] Goods purchased [Credit] Accounts payable
What is the journal entry for destroyed goods if it is not mentioned that loss is by fire or theft?
[Debit] Goods lost [Credit] Inventory account
What journal entry goods taken away by the owner?
[Debit] Drawings account xxxx [Credit] Purchases account xxxx
