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Yes, that is possible. For instance a credit could be given to "reverse" a payment made in error.
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What is the journal entry to record letter of credit?
I received letter of credit from my customer how i have to enter my entries
How do you record a journal entry for donatiOn received?
[Debit] Cash [Credit] Donation
In accounting what is the difference between debit and credit?
A debit is an entry showing money you have payed out. A credit is an entry showing money you have received.
Does cash purchase of equipment go in the cash receipt journal?
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capitalDebit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash accept.we have some confusion about format of cash recipts.is it true?
What is a receipt journal?
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
What is the journal entry to record letter of credit?
I received letter of credit from my customer how i have to enter my entries
What is money received?
Money received can be income, payment for services rendered, credit towards a debt, etc.
Do you need money to get a credit card?
The only thing you needed is a good credit record.
How do you record a journal entry for donatiOn received?
[Debit] Cash [Credit] Donation
In accounting what is the difference between debit and credit?
A debit is an entry showing money you have payed out. A credit is an entry showing money you have received.
Does cash purchase of equipment go in the cash receipt journal?
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capitalDebit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash accept.we have some confusion about format of cash recipts.is it true?
Who person checks he credit record of applicants and decides whether they may borrow money?
An underwriter.
What is a receipt journal?
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
What is the process by which banks record whose account gives up money and whose account receives money?
Check clearing is the process that banks utilize to record the account that the money originates from as well as the account the money is received at.
What is a cash receipt journal?
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
How do you record loan proceeds using cash basis acctg Debit Cash and Credit what?
If cash is received from debtors then accounts receivable will be credited otherwise to whom it is received will be credited.
How do you record journal entry for cash?
if cash received then cash is debit while if cash is paid then cash is credit with other account towards which payment made or amount received.
