[Debit] Gratuity [Credit] Cash / bank
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 down paymentCredit Cash
Gratuity a/c dr Provision for gratuity a/c
[Debit] Down payment xxxx [Credit] cash xxxx
what is the entry for an excess payment from customer
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 down paymentCredit Cash
Gratuity a/c dr Provision for gratuity a/c
[Debit] Down payment xxxx [Credit] cash xxxx
Debit advance payment for assetCredit cash / bank
The journal entry to record payment for supplies would involve crediting the cash account and debiting the supplies expense account.
Debit cash / bankCredit accounts receivable
Debit accounts payableCredit cash /bank
debit cash / bankcredit unearned revenue
debit cash / bankcredit accounts receivable