[Debit] Accounts Receivable 1250
[Credit] Services sales 1250
Purchase Credit Journal Entry is the journal entry passed by the company in the purchase journal of the date when the company purchases any inventory from the third party on the terms of credit. The purchases account will be debited. The creditor’s account or account payable account will be credited to the company’s books of accounts. visit our page : ieqsgroup .com/about-us
General Journal
Purchases journal
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.
The General Journal.
Purchase Credit Journal Entry is the journal entry passed by the company in the purchase journal of the date when the company purchases any inventory from the third party on the terms of credit. The purchases account will be debited. The creditor’s account or account payable account will be credited to the company’s books of accounts. visit our page : ieqsgroup .com/about-us
General Journal
Purchases journal
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.
There are two account titles in the column of the purchases journal because if a purchase is made for cash, the transaction is not recorded in the purchases journal.
The General Journal.
journal entries can be undone by reversing the original entries by credit the debit account and debit the credit account.
Journal entry for opening a bank account
There are two account titles in the column of the purchases journal because if a purchase is made for cash, the transaction is not recorded in the purchases journal.
journal
Journal
[Debit] Depreciation account [Credit] Asset account