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That depends on the type of receivable you are debiting. Debiting a receivable means that a person/company now owes you money for either a service rendered or some other type of purchase, perhaps even another reason. Credits for a sale of products and/or services generally are credited to such accounts as Sales,Income, Revenue.
However, if your company is disposing of a Fixed Asset and has sold this asset to another on account, then you will use such accounts as Gain or Loss on Disposal of Fixed Assets.
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What is the journal entry for dividends receivable?
Dividend receivable Debit Cash dividend Credit Cash Debit Dividend receivable Credit
What is receivable allowance debit or credit?
credit
Is commission receivable a credit or debit?
commission receivable is credited
Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
Does interest receivable have credit or debit balance?
credit
Is interest receivable debit or credit?
debit
What is the journal entry for dividends receivable?
Dividend receivable Debit Cash dividend Credit Cash Debit Dividend receivable Credit
What is receivable allowance debit or credit?
credit
Is commission receivable a credit or debit?
commission receivable is credited
Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
Does interest receivable have credit or debit balance?
credit
Is a Decrease in Interest Receivable a credit or debit?
a decrease in a receivable is a decrease in an asset therefore its a credit.
Are accounts receivable a debit or credit on trial balance sheet?
Debit
What is the double entry for sale?
Cash/Bank/Accounts Receivable [Debit] Sales[Credit]
How do you enter rent received and rent receivable in accounts?
Journal Entry for Rent Received:[Debit] Rent Received[Credit] Cash/bankJournal entry for rent receivable[Debit] Accounts Receivable[Credit] Rent Receivable
What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
What would the adjusted entry be for product sold on credit?
When product sold:[Debit] Accounts receivable[Credit] Sales revenueAdjusted Entry:[Debit] Cash / bank[Credit] Accounts receivable
