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Q: What journal entry needs to happen when a customer pays their account?
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What need to happen when recording a journal entry for a sale on account?

What needs to happen when recording a Journal Entry for a sale on account


What needs to happen when recording a journal entry for a sale account?

When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.


What is the journal entry to write off customer accounts?

You would credit the customer account and debit bad debt.


What is the journal entry for receiving money from customers on account?

debit cashcredit accounts receivable


What journal entry when customer pays account?

[Debit] cash / bank [credit] accounts receivable


What journal entry happens when customer pays account?

Debit cash / bankCredit accounts receivable


What is the journal entry for when a customer pays their account?

[Debit] cash / bank [credit] accounts receivable


What is the journal entry when a customer pays their account?

(Debit) Cash xxxx (Credit) Accounts receivable xxxx


What happen when recording a journal entry for a sale on account?

goods physically should be transferred to customer as well as all liabilities related to goods as well before recording transaction.


What need to happen when recording a journal entry for a sale account?

To record a journal entry for sales, the possession of goods or services is transferred from business to client or end user.


What needs to happen when recording a journal entry on a sale on account?

goods physically should be transferred to customer as well as all liabilities related to goods as well before recording transaction.


What is the journal entry to write off a customer account due to bankruptcy?

Debit bad debtsCredit accounts receivable