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Journal entry for payment to suppliers?

Updated: 9/18/2023

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∙ 12y ago

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debit Accounts Payable
credit cash / bank

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∙ 9y ago

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∙ 12y ago

dr supplier

cr bank

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What will be the journal entry if the invoice is received from supplier?

There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.

How do you made a journal entry for loan repayment schedule?

There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.

What is an accrual journal entry?

Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.

What journal entry is a down payment?

Debit down paymentCredit Cash

What is the journal entry for down payment of cash?

[Debit] Down payment xxxx [Credit] cash xxxx

Related questions

What will be the journal entry if the invoice is received from supplier?

There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.

What is journal entry for expense payment?

what is the entry for an excess payment from customer

How do you made a journal entry for loan repayment schedule?

There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.

What is an accrual journal entry?

Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.

What journal entry is a down payment?

Debit down paymentCredit Cash

What is the journal entry for down payment of cash?

[Debit] Down payment xxxx [Credit] cash xxxx

What is the Journal entry for purchase of asset by advance payment?

Debit advance payment for assetCredit cash / bank

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.

What is the journal entry for a payment on an account?

Debit cash / bankCredit accounts receivable

What is journal entry for gratuity payment?

[Debit] Gratuity [Credit] Cash / bank

What is the journal entry payment to the vendor?

Debit accounts payableCredit cash /bank

What is the journal entry for payment which is not earned?

debit cash / bankcredit unearned revenue

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