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When a business makes a sale on account which account is debited in the accounting entry?
Wiki User
∙ 12y ago
Cash book
Wiki User
∙ 12y ago
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What is owner's current account and it's accounting entry?
owners current account is called a personal account and it has a credit entry
What is the basic summary device of accounting?
account or accounting equation
What is office maintenance in accounting?
What entry can we post to Office Maintenance Account in accounting
What you mean by account?
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
Steps to convert single entry to double entry?
Single entry accounting can only be used for extremely simple businesses, like a lemonade stand in your front yard.Double entry accounting debits an account and credits a different account everytime there is a transaction.
The entry to close the appropriate insurance account at the end of the accounting period is what?
Insurance account is expense account and expense account is closed in income summary account. Insurance account should be credited where as income summary account should be debited
How do you reverse a journal entry?
Change the signs on the original entry, ie. change the Debit to credit and vice-versa then re-post the journal.
What is office account?
What entry can we post to Office Maintenance Account in accounting
What is owner's current account and it's accounting entry?
owners current account is called a personal account and it has a credit entry
What is office maintenance in accounting?
What entry can we post to Office Maintenance Account in accounting
What is the basic summary device of accounting?
account or accounting equation
What you mean by account?
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
Which is error in Sale goods to Ali is wrongly debited to Uzair Account instead of Ali account?
Rectify entry: [Debit] Ali Account [Credit] Uzair Account
What is office maintenance account?
What entry can we post to Office Maintenance Account in accounting
What is the journal entry of a repayment of a loan 2000 debited in error to wages account?
Debit Loan account 2000 Credit Wages account2000
Steps to convert single entry to double entry?
Single entry accounting can only be used for extremely simple businesses, like a lemonade stand in your front yard.Double entry accounting debits an account and credits a different account everytime there is a transaction.
Final record of entry in a business' accounting system?
invoice
