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As an asset account, the accounts receivable (Sales Ledger Control) build up the debit side. So: First off, sales are credited the amount then the receivable account is debited the same amount. Once payment has been made then accounts receivable is credited and the bank is debited.
debited
Commission received is credited and cash is debited
The following will increase: Expense and Revenue Accounts Cost of Goods Sold - Credited Sales Revenue - Credited Balance Sheet Accounts Assets Accounts Accounts Receivable or Cash depending on payment terms will be debited
When an employee receives an advance on pay an asset account called employee advances is debited and the cash paid out is credited. When the advance is repaid then the applicable expense accounts are debited and the advance account is credited.
As an asset account, the accounts receivable (Sales Ledger Control) build up the debit side. So: First off, sales are credited the amount then the receivable account is debited the same amount. Once payment has been made then accounts receivable is credited and the bank is debited.
debited
Commission received is credited and cash is debited
The following will increase: Expense and Revenue Accounts Cost of Goods Sold - Credited Sales Revenue - Credited Balance Sheet Accounts Assets Accounts Accounts Receivable or Cash depending on payment terms will be debited
credited
credited
When an employee receives an advance on pay an asset account called employee advances is debited and the cash paid out is credited. When the advance is repaid then the applicable expense accounts are debited and the advance account is credited.
credit
All liabilities are credited and assets are debited so increase in liability will be credited and not debited.
Credit
Prepaid Rent is debited.
Prepaid Rent is debited.