There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
i received goods but not invoice so i have not actually paid for my goods? help
Invoice a/c .. dr To cash a/c
no entry when invoices received, journal entry made when transaction occured and not when invoices received.
I believe the answer is as follows: If payment not made : No action If payment made : Dr Purchases Cr Bank Can someone verify this? Thanks!
Debit trick exp and credit accounts payable
i received goods but not invoice so i have not actually paid for my goods? help
Invoice a/c .. dr To cash a/c
no entry when invoices received, journal entry made when transaction occured and not when invoices received.
Purchase A/c Dr . Dis. Received A/c dr to Supplier A/c cr
I believe the answer is as follows: If payment not made : No action If payment made : Dr Purchases Cr Bank Can someone verify this? Thanks!
Debit trick exp and credit accounts payable
debit the bank or cash and credit the supplier or the party from whom we received the cheque or cash
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
If dividend received is reinvested then there is no journal entry is required and this information can be mentioned through the use of memo entry.There is no journal entry required for dividend received reinvested as nothing is received by person or company so memo entry is enough for information purpose.
debit advances to suppliercredit cash / bank
debit accounts payablecredit bank