The journal entry is Account Payable - Royal Company (debit) 600 Cash (credit) 600
debit cash bankcredit accounts receivable
[Debit] Machinery Asset [Credit] Cash Account
credit the debtor and debit the creditor
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 Account Payable - Royal Company (debit) 600 Cash (credit) 600
debit cash bankcredit accounts receivable
Debit debt accountCredit cash / bank
debit cash /bankcredit capital account
[Debit] Machinery Asset [Credit] Cash Account
credit the debtor and debit the creditor
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
[Debit] Tax paid [Credit] Cash / bank
preliminary expenses account debit to cash account (if the amount has been paid in cash)
[Debit] Cash account xxxxx [Credit] Share application account xxxxx Entry 2 [Debit] Share Application account xxxxx [Credit] Share Capital Account xxxxx
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.