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When a payment is made to a creditor, the following journal entry is recorded in the books of accounts
What else can I help you with?
What is journal entry tp make order?
There is no entry required when order is placed instead of entry is made when goods received or payment made in advance.
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
How do you made a journal entry for loan repayment schedule?
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
How the accounting entry should be made when the creditor convert the loan to equity?
Debit Loan and credit Capital Reserve
Journal entry for Invoice received but goods not received?
I believe the answer is as follows: If payment not made : No action If payment made : Dr Purchases Cr Bank Can someone verify this? Thanks!
What is journal entry tp make order?
There is no entry required when order is placed instead of entry is made when goods received or payment made in advance.
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
How do you made a journal entry for loan repayment schedule?
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
What is a back payment?
A back payment is an overdue payment from a debtor to a creditor on money owed.
If payment is a month behind yet two weeks ago made a full payment can they still threaten to repossess?
AnswerProbably, but if payments are kept current it would be unlikely that a creditor would take such action. When a scheduled payment is missed the account is in default even if the payment is "made up" and the creditor can exercisewhatever options might apply under the original agreement, including repossession of the item.
What is the entry for bill disconting dishonour?
The entry for a bill discounting to be dishonored is made when the drawee refuses to accept or make payment on the bill. It is dishonored by non-acceptance or non-payment.
How the accounting entry should be made when the creditor convert the loan to equity?
Debit Loan and credit Capital Reserve
How do you make an electronic payment.?
Visit the creditor's website and you should find instructions for that particular creditor.
What is journal entry for expense payment?
what is the entry for an excess payment from customer
Do I still owe if a creditor refuses to give you payment address?
If a creditor refuses to give you payment address, you still owe them money. This might be frustrating but does not get you off the hook.
Journal entry for Invoice received but goods not received?
I believe the answer is as follows: If payment not made : No action If payment made : Dr Purchases Cr Bank Can someone verify this? Thanks!
Payment made out of drawing by owner what journal entry passed?
Debit drawings accountCredit cash
