Accounts receivable
In a trial balance, an investment account is typically recorded as a debit (Dr) balance. This is because investments represent assets owned by the business, and asset accounts are increased with debits. Therefore, in the context of a trial balance, a 10 investment would appear as a debit.
Prepaid taxes and equipment are asset accounts, so would normally have a debit balance. Rent expense is an expense account, so would normally have a debit balance. Liability, equity, and income accounts normally have credit balances.
Debit Deposits (an asset account) and credit Cash. You could also debit Accounts Payable for the deposit. Then post the final billing as a credit to Accounts Payable - the net difference is what would be due to the vendor.
You would credit the customer account and debit bad debt.
capital
When product sold:[Debit] Accounts receivable[Credit] Sales revenueAdjusted Entry:[Debit] Cash / bank[Credit] Accounts receivable
Debit expense or accounts payableCredit cash / bank
Accounts receivable
Prepaid taxes and equipment are asset accounts, so would normally have a debit balance. Rent expense is an expense account, so would normally have a debit balance. Liability, equity, and income accounts normally have credit balances.
Debit Deposits (an asset account) and credit Cash. You could also debit Accounts Payable for the deposit. Then post the final billing as a credit to Accounts Payable - the net difference is what would be due to the vendor.
You would credit the customer account and debit bad debt.
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
Accounts payable
Usually checking accounts have debit cards automatically. The only reason I could think you would get one is if you are a risk to them, like in the past you have had plenty of bounced checks or constantly run down your balance. Why not ask them, they are the one's denying you, they would have the answer.
false
debit cash / bankcredit accounts receivable