debit Accounts Payable
credit cash / bank
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.
Debit down paymentCredit Cash
[Debit] Down payment xxxx [Credit] cash xxxx
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
what is the entry for an excess payment from customer
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.
Debit down paymentCredit Cash
Debit advance payment for assetCredit cash / bank
[Debit] Down payment xxxx [Credit] cash xxxx
Debit supplies inventoryCredit cash / bank
Debit cash / bankCredit accounts receivable
Debit accounts payableCredit cash /bank
[Debit] Gratuity [Credit] Cash / bank
debit cash / bankcredit unearned revenue