There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
debit telephone expensescredit expenses payable
[Debit] Utility bill 160 [Credit] Cash 160
Electrycity bill A/C Debit To Cash A/C Credit
debit electricity billcredit bank
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
debit telephone expensescredit expenses payable
[Debit] Utility bill 160 [Credit] Cash 160
Electrycity bill A/C Debit To Cash A/C Credit
[Debit] Tax paid [Credit] Cash / bank
debit electricity billcredit 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.
capital
Debit cash / bankCredit paid in capital
Journal entry is as follows: [Debit] David A/c xxxx [Credit]Andrew A/c xxxx
Debit interest expenseCredit cash