what is the entry for an excess payment from customer
debit expenses
credit cash
Debit expense or accounts payableCredit cash / bank
The journal entry to record payment for supplies would involve crediting the cash account and debiting the supplies expense account.
prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.
debit accrued expensescredit cash / bank
expense
Payable Account XXX Expense Account XXX
DR - Interest Expense CR - Interest Payable
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.
debit cash / bank / accounts payablecredit expense account
[Debit] Salary expense [Credit] Cash / bank
Debit prepaid expensesCredit cash / bank