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Where do you record a purchase of supplies on account?
This should be recorded in the cash payment journal.
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
Where do you record a purchase of supplies on account?
This should be recorded in the cash payment journal.
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
Which journal entry records payment for supplies?
The journal entry to record payment for supplies would involve crediting the cash account and debiting the supplies expense account.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
What accounts affected in received payment on account?
"what accounts are affected and how when a payment on account is received from a customer
What payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
What is a payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
How can you split a payment between your savings account and your checking account In the ePay function?
In the ePay function, how can you split a payment between your savings account and your checking account
In the ePay function how can you split a payment between your savings account and your checking account?
In the ePay function, how can you split a payment between your savings account and your checking account
Where do you record an dishonoured cheaque in the jourals?
An dishonored cheque is typically recorded in the journal by debiting the bank account and crediting accounts receivable or the customer's account. This reflects the reversal of the payment that was previously recorded when the cheque was received.
