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a decrease in a receivable is a decrease in an asset therefore its a credit.
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Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
What is the journal entry for interest receivable?
[Debit] Interest Receivable [Credit] Interest Income
Does interest receivable have credit or debit balance?
credit
Are accounts receivable a debit or credit?
Accounts receivable is a debit.Answer:Accounts receivable is an asset and therefore maintains a debit balance. This is an account listing what a person or company owes you, or money that you expect to receive. Since it is an asset (all assets maintain a debit balance) it means to increase the account you debit it and to decrease it (when a payment is made by the customer) you credit it.Assets = debit balance (increase with debit, decrease with credit)Liabilities and Owners Equity = credit balance (increase with a credit, decrease with a debit)(GAAP)
Is a decrease in interest payable a credit or debit?
credit
Is interest receivable debit or credit?
debit
Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
What is the journal entry for interest receivable?
[Debit] Interest Receivable [Credit] Interest Income
Does interest receivable have credit or debit balance?
credit
What is the journal entry for accrued interest expense on Notes Payable?
debit interest expense, credit interest payable for the accrued amount
Are accounts receivable a debit or credit?
Accounts receivable is a debit.Answer:Accounts receivable is an asset and therefore maintains a debit balance. This is an account listing what a person or company owes you, or money that you expect to receive. Since it is an asset (all assets maintain a debit balance) it means to increase the account you debit it and to decrease it (when a payment is made by the customer) you credit it.Assets = debit balance (increase with debit, decrease with credit)Liabilities and Owners Equity = credit balance (increase with a credit, decrease with a debit)(GAAP)
Is a decrease in interest payable a credit or debit?
credit
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
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.
Is commission receivable a credit or debit?
commission receivable is credited
What is the journal entry to record accrued interest income from note receivable?
[Debit] Accrued interest income [Credit] Notes payable
