0
What else can I help you with?
Where do you record a purchase of supplies on account?
This should be recorded in the cash payment journal.
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
How do you record payment of debenture interest?
To record the payment of debenture interest, you need to make a journal entry that debits the interest expense account and credits the cash account. This reflects the outflow of cash for the interest payment. Additionally, if the interest is accrued but not yet paid, you may also need to adjust the accrued interest payable account accordingly. Always ensure that the amount recorded matches the terms specified in the debenture agreement.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
Where do you record a purchase of supplies on account?
This should be recorded in the cash payment journal.
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
Which journal entry records payment for supplies?
Debit supplies inventoryCredit cash / bank
How do you record payment of debenture interest?
To record the payment of debenture interest, you need to make a journal entry that debits the interest expense account and credits the cash account. This reflects the outflow of cash for the interest payment. Additionally, if the interest is accrued but not yet paid, you may also need to adjust the accrued interest payable account accordingly. Always ensure that the amount recorded matches the terms specified in the debenture agreement.
How do I record federal taxes paid in QuickBooks?
To record federal taxes paid in QuickBooks, you can create a new expense account for federal taxes and then enter the payment as an expense transaction in the software. Make sure to categorize the payment under the federal taxes account to accurately track and report your tax payments.
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
Can an ACH payment be declined?
Yes, an ACH payment can be declined if there are insufficient funds in the account, the account is closed, or if there is an issue with the payment information.
What accounts affected in received payment on account?
"what accounts are affected and how when a payment on account is received from a customer
What is a payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
What payment on account by a customer?
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
