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Debit drawings account
Credit cash
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∙ 9y ago
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What is journal entry passed on payment by cheque to vendor?
[Debit] Accounts payable xxxx [Credit] bank account xxxx
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.
Is journal entry passed when PO is booked?
No journal entry required when PO is generated as no business transaction has occurred.
Where you can entered drawing entry in Tally 9.0?
payment voucher
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
