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Answered 2012-07-19 23:07:23
It is your checking account , but it is debited, not credited.
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Yes owners drawings account is debit because cash is credited when withdrawal to reduce the cash from business.
A cash card isn't connected to a bank account ( apex) Hopefully I worded it correctly
Petty cash: Debit Cash: Credit
They are one in the same with the exception that with cash you have the money in hand. Debit is a card that is linked to your checking account and you debit your money from your account but it is the same as cash in a store.
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.
In simple terms - a debit card is 'electronic cash'. You can only pay for things with a debit card as long as there is enough money in the account that's linked to it. Once the cash is spent, the card will be rejected.
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 )
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)
entry to this would be plant account dr 5600 to suspense account 5600 in this entry we had to debit plat's account by rs 2800 but we had credited it by rs 2800 so we will debit plant's account by rs 5600 with suspense
Obtaining a debit card is often easier than getting a credit card. If you qualify to open a bank account, you can usually get a debit card.Unlike when you write a check, using a debit card saves you from having to show identification or give out personal information at the time of the transaction.It frees you from carrying cash or a checkbook.It can save you from having to stock up on traveler's checks or cash when you travel.Debit cards may be more readily accepted than checks, especially in other states or countries.If you return merchandise or cancel services paid for with a debit card, the transaction will be treated as if it were made with cash or a check. Customers usually get cash back for on-line purchases; for off-line transactions, the amount is credited to your account.Most ATMs will allow you to get a cash advance against the line of credit on your credit card, using your credit card and a separate PIN. You do not necessarily have to have a bank account to do this.Obtaining a debit card is often easier than getting a credit card. If you qualify to open a bank account, you can usually get a debit card.Unlike when you write a check, using a debit card saves you from having to show identification or give out personal information at the time of the transaction.It frees you from carrying cash or a checkbook.It can save you from having to stock up on traveler's checks or cash when you travel.Debit cards may be more readily accepted than checks, especially in other states or countries.If you return merchandise or cancel services paid for with a debit card, the transaction will be treated as if it were made with cash or a check. Customers usually get cash back for on-line purchases; for off-line transactions, the amount is credited to your account.Most ATMs will allow you to get a cash advance against the line of credit on your credit card, using your credit card and a separate PIN. You do not necessarily have to have a bank account to do this.Saves having cash in my wallet
debit expensescredit payer account
No - a debit card is simply an electronic version of cash. If there are insufficient funds in your account to cover the transaction, the card will be declined.
Yes, you can pay with debit card in stores. It is just like paying in cash because your purchases are charged to your bank account.
Can a cash advance be deposited on a prepaid debit card?
They should do ! A debit card is seen as 'electronic cash'. You can only pay for items with a debit card IF there is enough money in the linked bank account to pay for the item.
It is a debit from the company side it is always a debit and when you pay out cash it is a credit
credit means where we purchase any product are any items without cash and pay cash with in time of the month debit card means the cash of in our account where we want withdraw any where any time and buy any thing cash no credit
why do you debit cash account and credit receivables for cash in transit
The Itz Cash Card is a prepaid cash card that is not linked to any bank. These are used in India and can be used just like any other debit card that is linked to a bank account.
Yes. Debit card is just like paying with cash because your purchase or any payment you make is charge to your bank account. It is not through a credit account.
debit card the card holder uses the balance of his or her own account in bank and make immediate payments while purchasing. smart card it can be used as a cash where accepted
All debit cards are free ! A debit card in simple terms - is electronic cash. No-one should be charged for using a debit card - as the only way the transaction can be completed is - if there's enough cash already in the account to cover the purchase.
Cash account normally has debit balance.
Cash advance can be given by using a valid, voided, check, a bank account, and check stubs from work. Using just a US direct express debit card alone is not enough to take out a cash advance.
if you pay by card you will get a refund by card
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