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How do you record loan proceeds using cash basis acctg Debit Cash and Credit what?
If cash is received from debtors then accounts receivable will be credited otherwise to whom it is received will be credited.
When goods are returned that relate to a prior cash sale?
The Cash account will be credited.
Is commission received debited or credited in the cashbook?
Commission received is credited and cash is debited
What account is credited when a debit card is used to pay cash on account?
It is your checking account , but it is debited, not credited.
Why cash is debited and capital is credited in journal of accounting?
1. Cash is debited because business cash is increased and capital is credited because it is the liability of the business towards its owner to return back at the time of dissolution of business.
How do you record loan proceeds using cash basis acctg Debit Cash and Credit what?
If cash is received from debtors then accounts receivable will be credited otherwise to whom it is received will be credited.
When goods are returned that relate to a prior cash sale?
The Cash account will be credited.
Is commission received debited or credited in the cashbook?
Commission received is credited and cash is debited
What account is credited when a debit card is used to pay cash on account?
It is your checking account , but it is debited, not credited.
Why cash is debited and capital is credited in journal of accounting?
1. Cash is debited because business cash is increased and capital is credited because it is the liability of the business towards its owner to return back at the time of dissolution of business.
What is the Journal entry to revalue cash on the balance sheet?
if cash is under valued then debit the cash with amount while if cash is overvalued the cash will be credited to reduce the balance.
How is Mathematics used in Acounting?
you have to use math in acounting for alot of things . like you have to know how to add and subtract and alot more
Is loan a credited or debited account?
A loan is considered a liability for the borrower and is recorded as a credited account on the balance sheet. When a loan is received, the cash account is debited to reflect the increase in cash, while the loan account is credited to indicate the obligation to repay. In summary, loans are credited in the borrower's accounting records.
What is history of account?
acounting history
What is the journal entry for furniture purchased?
[Debit] Furniture [Credit] Cash / bank
What account is credited when recording the cash purchase of a product?
accounts payable
What cash crop is credited with helping the Jamestown colony survive?
Tobacco
