Which ever is at hand quicker. Also some places won't accept debit cards, only cash, and other places only accept debit cards.
yes. the entry should be: petty cash fund debit cash in bank credit
debit drawingscredit cash / bank
debit drawingscredit cashDebit - Accounts Receivable - Owner Credit - Cash
Debit: Profit & Loss Account Credit: Cash In Hand or Petty Cash Nature of Debit is Expense and the nature of Credit is Asset. Expense Increased and Asset Decreased If you have an account already open for such Losses then you should debit such account. For example in my company Cash loss is usual Case so we have an Account titled "Cash Lost Expense" In my cash I will pass the entry as Debit: Cash Lost Expense Credit: Cash in Hand or Petty Cash
Debit business expensesCredit cash
yes. the entry should be: petty cash fund debit cash in bank credit
debit drawingscredit cash / bank
debit drawingscredit cashDebit - Accounts Receivable - Owner Credit - Cash
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.
Debit: Profit & Loss Account Credit: Cash In Hand or Petty Cash Nature of Debit is Expense and the nature of Credit is Asset. Expense Increased and Asset Decreased If you have an account already open for such Losses then you should debit such account. For example in my company Cash loss is usual Case so we have an Account titled "Cash Lost Expense" In my cash I will pass the entry as Debit: Cash Lost Expense Credit: Cash in Hand or Petty Cash
you may need cash or not want to use a debit card that day
Debit business expensesCredit cash
debit
It is a debit from the company side it is always a debit and when you pay out cash it is a credit
[Debit] Drawing account [Credit] Cash account [Debit] Owners capital [Credit] Drawing account
You must have enough cash in your bank account to cover the cost of the purchase when you use your debit card ( some banks limit the amount that you can pay for with a debit card also )
[debit] office use expenses[credit] cash