Bank a/c Dr
To Advance from the party A/c
debit bankcredit accounts receivable
debit bankcredit accounts receivable
Debit bankCredit accounts receivable
debit the bank or cash and credit the supplier or the party from whom we received the cheque or cash
Debit advance cash receivedCredit unearned revenue
debit cheque under collectionCredit accounts receivable
Debit customer depositsCredit unearned revenue
Cash A/C Dr To Rent Received in Advance A/C
debit bank account and credit ram account
There is no entry required when order is placed instead of entry is made when goods received or payment made in advance.
no entry when invoices received, journal entry made when transaction occured and not when invoices received.
Debit rentCredit bank