expesnse debit and cash or bank credit
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
The journal entry is the accounting entry which lists the goods that are bought on credit.
debit goods / inventorycredit accounts payable
Debit goods purchasesCredit cash / bank
Debit goods receivedCredit accounts payable
Debit electricity expensesCredit cash / bank
debit goods returnedcredit accounts receivable
i received goods but not invoice so i have not actually paid for my goods? help
Abnormal loss of goods a/c dr. To purchases a/c
L/C related all journal entries
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
debit accounts receivablecredit sales revenue