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Why do funds paid into your bank account appear as credit entries on your bank statement?
Wiki User
∙ 15y ago
The funds are a credit to the bank that is issuing the statement. They "owe" you the money, therefore the credit.
Wiki User
∙ 15y ago
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How do you undo journal entry?
journal entries can be undone by reversing the original entries by credit the debit account and debit the credit account.
Is a bank overdraft debit or credit?
The answer will appear on the statement in re, meaning that it is a negative or credit value.
Will a credit entry to an account increase the balance of a revenue account?
Yes. Since revenue accounts are "credit" accounts, they are increased by credit entries and decreased by "debit" entries.
A debit or credit memo describing entries in the company's bank account may be enclosed with the bank statement An example of a credit memo is?
a promissory note left for collection
Would parents know if you use their credit card for PayPal account even if they do not have access to your PayPal account?
Yes, it would appear on their credit card statement as going to Paypal.
Can two different creditors report the same account on your credit report?
I had the same issue, and technical they can sometimes be a double reporting on your account. You have the right to send that in as a dispute, requesting that one of entries be removed, as these double entries do effect your credit.
What is the accounting journal entries for penalties and interest an taxes?
The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
When might someone see 'credit card 0 balance transfer' on their statement?
'Credit Card 0 Balance Transfer' would appear on your credit card statement if your credit card is paid off in full. This means that you do not have to transfer any money from your bank account to pay off your credit card balance.
How do you journalize entries for the stock issuances?
Debit Cash / bank Credit share capital account
If you attach a statement to an account on your credit record saying this account does not belong to you can this account be used for a FICO Score?
It is not possible to "attach a statement to an account". It is only possible to place a consumer statement on your report. This is important distinction and should answer the remainder of your question. In general, your statement, which may refer to a certain disputed account, shows to all who access your credit. But the fact that it is separate from the account itself means that the account would be used in the calculation of your credit scores.
Is bank a debit or credit?
The answer will appear on the statement in re, meaning that it is a negative or credit value.
A service charge would appear as a credit on your bank statement?
no
