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What is the journal entry for accounts payable and recivable computer accounti?
Wiki User
∙ 12y ago
I think in this question something is missing : The Expense A/c or Service A/c Dr from which regards we have liability to payand Cr. the Account payable A/c.For example : We purchased goods from BM...Accounts Payable Cash/Bank/Goods etc
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoEntry for accounts receivable:
debit accounts receivable
credit sales revenue
entry for accounts payable
debit purchases
credit accounts payable
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What is the journal entry for accrued income?
Accrued income is income earned but not yet received. The journal is as follow For example: at fisical year end 31/dec/2007 our company from project X has accomplished 70% of the work, where it only invoiced 40%. there fore we say the uninvoiced 30% is accrued income as Accrued income Dr. 30% Sales Cr. 30% Once the company invoices the remaining 30% (no cash recived yet) Accounts recivable Dr. Accrued income Cr. Once cash recived Cash Dr. Accounts recivable Cr.
What is the proper journal entry for purchasing a computer on account?
[Debit] Computer Asset Account [Credit] Accounts payable account
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
What is columnar journal?
A Columnar Journal is an alternative journal form that is designed with special columns for entries to accounts which are used often and an 'Other Accounts' column for entries to accounts for which a special column has not been provided. Columnar Journals can also be called 'Synoptic Journals' and/or 'Combination Journals'.
Branch accounts journal entries?
good to sent
What is the journal entry for accrued income?
Accrued income is income earned but not yet received. The journal is as follow For example: at fisical year end 31/dec/2007 our company from project X has accomplished 70% of the work, where it only invoiced 40%. there fore we say the uninvoiced 30% is accrued income as Accrued income Dr. 30% Sales Cr. 30% Once the company invoices the remaining 30% (no cash recived yet) Accounts recivable Dr. Accrued income Cr. Once cash recived Cash Dr. Accounts recivable Cr.
What is the proper journal entry for purchasing a computer on account?
[Debit] Computer Asset Account [Credit] Accounts payable account
Are journals balanced daily in bookkeeping?
Yes. In practice, accountants and bookkeepers normally use computer software to input journal entries; the software automatically ensures all accounts are balance after every journal entry.
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
What is Journal phase of accounting?
Journal phase of accounting is to journalize the business transaction in Journal as a first record in books of accounts.
How do you explain accounts receivable in a journal entry?
Debit accounts receivableCredit sales revenue
What is columnar journal?
A Columnar Journal is an alternative journal form that is designed with special columns for entries to accounts which are used often and an 'Other Accounts' column for entries to accounts for which a special column has not been provided. Columnar Journals can also be called 'Synoptic Journals' and/or 'Combination Journals'.
Branch accounts journal entries?
good to sent
What happends when recording a journal entRy?
When recording done as journal entry any business transaction is recorded in books of accounts and become part of business books of accounts.
What is the journal entry to writeoff accounts payables?
Accounts Payable Cash/Bank/Goods etc
What is journal entry of accrual?
debit expense accountcredit accounts payabledebit accounts receivablecredit income
