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If it is customer deposits then it is liability of business to be paid then its balance is credit but if it is deposit with other companies or in bank then it is asset of business and default balance is debit balance.
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What is the journal entry for deposit for future subscription of stocks?
debit deposit for future subscriptioncredit cash / bank
What is the journal entry for cash deposit for Fixed deposit in bank?
debit bank accountcredit cash / bank
Is a certificate of deposit debited or credited?
Certificate of deposit is a current asset account and that's why it has a debit balance as a normal balance.
What does debit DDA mean?
DDA stands for Demand Deposit Account. It is your deposit account. A term used widely in payments industry
What is the journal entry when a term deposit is created?
Debit term depositCredit cash / bank
What is RD drawdown debit?
recurring deposit i guess
What is the journal entry for deposit for future subscription of stocks?
debit deposit for future subscriptioncredit cash / bank
What is the journal entry for cash deposit for Fixed deposit in bank?
debit bank accountcredit cash / bank
What is it called to take money out of your bank account?
It can be called a withdrawal or a deposit.
Would a deposit appear on your bank statement as a credit?
Yes. A deposit is a credit and a withdrawal (check, debit card, etc.) is a debit. For example, you open a checking account with $500: Opening Balance $500 this is a credit (+) You write a check for $25 this is a debit (-) You write a check for $82 this is a debit (-) You make a deposit of $250 this is a credit (+) You write a check for $28 this is a debit (-) Your balance is $615 If you were to write a check for more than your balance of $615, then you would have a negative (-) balance.
Is a certificate of deposit debited or credited?
Certificate of deposit is a current asset account and that's why it has a debit balance as a normal balance.
What is not a considered a debit?
direct deposit
What does a minus balance on acredit card mean?
If your credit (not debit) card has a negative balance on your statement, then there is an overpayment (you paid more than you owe). So now they owe you money. This is usually applied towards future charges.
What is a debit card and how does it work?
Debit card works like a credit card, the only difference is that when you make a purchase, the transaction is charged to your deposit with the bank who issued your debit card.
How do you deposit funds in fxcm from Pakistan?
by using VISA debit or credit card
What does debit DDA mean?
DDA stands for Demand Deposit Account. It is your deposit account. A term used widely in payments industry
What is journal entry for cheq deposit?
[Debit] Bank Account [credit] Cash Account
