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What is the journal entry if the company paid for inventory with a credit card?
Wiki User
∙ 9y ago
debit purchases
credit bank
Wiki User
∙ 9y ago
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What is the journal entry of supplies used?
[Debit] Supplies expenses [Credit] Supplies Inventory
What is the journal entry to record sale of obsolete inventory?
Debit cash / bankdebit loss (if any)Credit inventory account
What is the journal entry for a purchase purchased on account of 54780?
Purchase Credit Journal Entry is the journal entry passed by the company in the purchase journal of the date when the company purchases any inventory from the third party on the terms of credit. The purchases account will be debited. The creditor’s account or account payable account will be credited to the company’s books of accounts. visit our page : ieqsgroup .com/about-us
Paid 600 to Royal Company on account. what is the journal entry of this transaction?
The journal entry is Account Payable - Royal Company (debit) 600 Cash (credit) 600
What is the journal entry for inventory spoilage?
Debit inventory spoilageCredit inventory account
How do record journal entry when the inventory is thrown away?
There are various ways to record a journal entry when the inventory is thrown away. The standard entry is to debit the cost of goods sold and credit the allowance for the obsolete inventory.?æ
What is the journal entry for parent company paid rent to holding company?
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
What is the journal entry of supplies used?
[Debit] Supplies expenses [Credit] Supplies Inventory
What is the journal entry to record sale of obsolete inventory?
Debit cash / bankdebit loss (if any)Credit inventory account
What is the journal entry for a purchase purchased on account of 54780?
Purchase Credit Journal Entry is the journal entry passed by the company in the purchase journal of the date when the company purchases any inventory from the third party on the terms of credit. The purchases account will be debited. The creditor’s account or account payable account will be credited to the company’s books of accounts. visit our page : ieqsgroup .com/about-us
Paid 600 to Royal Company on account. what is the journal entry of this transaction?
The journal entry is Account Payable - Royal Company (debit) 600 Cash (credit) 600
What is the journal entry for inventory spoilage?
Debit inventory spoilageCredit inventory account
What is the journal entry for destroyed goods if it is not mentioned that loss is by fire or theft?
[Debit] Goods lost [Credit] Inventory account
What is The journal entry to record the purchase of inventory included a debit to?
[Debit] Purchases [Credit] Cash / bank / accounts payable
You own a small restaurant and donate food to non profit event How do you record the journal entry Debit Donations and credit what account?
Credit Food Inventory
What is the journal entry to record materials issued into production?
debit WIP Credit labor, Raw materials
What journal entry to record sale of inventory?
Debit Cash / bank / accounts receivable xxxx Credit Sales revenue xxxx
