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It is a debit from the company side it is always a debit and when you pay out cash it is a credit
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Why is cash a credit in accounting?
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
When a customer pays on their account is it a credit or a debit to the customers account?
debit a/r credit cash
How do you do withdrawal cash from business bank account for personal use?
[Debit] Drawing account [Credit] Cash account [Debit] Owners capital [Credit] Drawing account
Is cash in transit account receivable or cash account?
why do you debit cash account and credit receivables for cash in transit
How do you establish the journal entry for petty cash?
[Debit] Petty Cash account [Credit] Cash account
Why is cash a credit in accounting?
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
Does a debit iincreasse a cash account?
Cash account has a debit as a normal balance so debit increases the cash account and credit reduces the cash account which is reverse of debit balance.
When a customer pays on their account is it a credit or a debit to the customers account?
debit a/r credit cash
How do you do withdrawal cash from business bank account for personal use?
[Debit] Drawing account [Credit] Cash account [Debit] Owners capital [Credit] Drawing account
Is cash in transit account receivable or cash account?
why do you debit cash account and credit receivables for cash in transit
What is the journal entry for Payment to builders for new building?
[Debit] Building account [Credit] Cash / bank
How do you account cash sales return?
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
How do you establish the journal entry for petty cash?
[Debit] Petty Cash account [Credit] Cash account
Is capital a debit or credit to an owners equity?
Capital is a Credit Balance account. To increase capital and therefore increase OE, you will Credit the account. Not DEBIT. You Debit Cash, Credit Capital.
Is the entry to establish a petty cash account a debit to petty cash and credit to cash?
yes. the entry should be: petty cash fund debit cash in bank credit
Know the journal entry for reimbursing the petty cash account?
[Debit] Petty Cash account [Credit] Cash account
Is a mortgage repayment for a business a credit or a debit entry?
Credit to cash, debit to the liability account for the mortgage.
