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What are the accounting journal entries to record a purchase of inventory?
Wiki User
∙ 10y ago
[Debit] Purchases xxxx
[Credit] Cash / bank xxxx
[Credit] Accounts Payable xxxx (if purchased on credit)
Wiki User
∙ 10y ago
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What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
What are the accounting journal entries to record a prepaid inventory?
Debit prepaid inventoryCredit cash / bank
What are the accounting journal entries for owner withdrawing supplies?
debit drawings accountcredit supplies inventory
What are the accounting journal entries to record the adjusting entry in a periodic system with an ending inventory of 15000 and a starting inventory of 20000?
Debit inventory expenses 5000Credit inventory account 5000
What are the accounting journal entries to record the purchase of a vehicle with a rebate?
Debit fixed assetCredit cashcredit rebate
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
What are the accounting journal entries to record a prepaid inventory?
Debit prepaid inventoryCredit cash / bank
What are the accounting journal entries for owner withdrawing supplies?
debit drawings accountcredit supplies inventory
What are the accounting journal entries to record a sale of inventory with discount?
debit accounts receivablecredit sales revenue
What the accounting journal entries to record purchase of basketball?
debit basketballcredit cash
What are the accounting journal entries to record the adjusting entry in a periodic system with an ending inventory of 15000 and a starting inventory of 20000?
Debit inventory expenses 5000Credit inventory account 5000
What are the accounting journal entries to record the purchase of a vehicle with a rebate?
Debit fixed assetCredit cashcredit rebate
What are accounting journal entries to record a purchase of stump age?
debit stamp age purchasecredit cash
What are the accounting journal entries to write off stock?
To write off stock in accounting, the journal entries would be to debit the inventory account and credit the expense account, such as "Inventory write-off" or "Loss on inventory write-off." Additionally, if applicable, debiting any allowance for obsolete or damaged inventory account and crediting the inventory account would be necessary. The total debit amount should equal the total credit amount in the journal entry.
What are the accounting journal entries to record an overcharged cost that was posted to an expense purchase to Accounts Payable and was paid at a later date?
general journal
What are the accounting journal entries to record a purchase of inventory at a distressed price?
If the inventory has some value then it must be entered in a new general ledger expense account and have a new contra asset account for the items. Enter the estimated value as a debit to the inventory obsolescence account and then credit it to the inventory reserve account.
What are the accounting journal entries to record the purchase of land on a note?
debit land accountcredit notes payable
