I am not sure but, if you are taking ACT 101 IN Harper College, the answer is going to be expense for $ 85. It means that you have to put $85 to note payable section, and then you also have to put $85 to expense account to subtract the amount. In other words, for the account of May 27, $85 is going to be on the Note payable account of Liabilities part, and you should put down the ($85) at the expense that is on the same line.
Debit fixed assetCredit cashcredit rebate
general journal
debit land accountcredit notes payable
what is the disadvantages of general journal
I would like to know how accounting journal entries would differ on acquisition in compliance with IAS a) under pooling interest method b) under purchase mehod Appreciate this is explained in detailed numbers for acquiree & acquirer.
debit basketballcredit cash
Debit fixed assetCredit cashcredit rebate
debit stamp age purchasecredit cash
general journal
debit land accountcredit notes payable
what is the disadvantages of general journal
I would like to know how accounting journal entries would differ on acquisition in compliance with IAS a) under pooling interest method b) under purchase mehod Appreciate this is explained in detailed numbers for acquiree & acquirer.
. 1. Based on the bank reconciliation prepare the journal entries.. Alaine Alvarez consulting July 31
closing entries
closing entries
closing entries
Adjusting entries are journal entries which are normally made to allocate income or expenditure to the accounting period in which they actually occured.