0
Accrued income
To Income
(Being Brokerage due but not received)
What else can I help you with?
What is the journal entry of interest due not paid?
debit interest expensecredit interest payable
What is the journal entry of telephone bill is due to be paid?
debit telephone expensescredit expenses payable
What is the journal entry to write off a customer account due to bankruptcy?
Debit bad debtsCredit accounts receivable
What is the journal entry for Interest due but not received?
debit interest receivablecredit interest income
When do you Record an expense as a journal entry?
In accrual accounting, expenses are recorded as you get them, so say receive your Utilities Bill due the next month, you record it immediately.For example I have a $500 Utility Bill it's June 28th, the bill isn't due until say July 15th, the entry would be;Utility Expense (debit) $500Utilities Payable (credit) $500On July 15th when the bill is paid you adjust the entry as follows;Utilities Payable (debit) $500Cash (credit) $500In Cash Basis Accounting the expense isn't recorded on the books until the bill is actually paid and the entry would be;Utilities Expense (debit) $500Cash (credit) $500
What is the journal entry of interest due not paid?
debit interest expensecredit interest payable
What is the journal entry of rent income?
rent due to landlord
What is the journal entry of telephone bill is due to be paid?
debit telephone expensescredit expenses payable
What should be the journal entry for cash due but not paid?
debit accrued expensescredit expense payable
What is the journal entry to write off a customer account due to bankruptcy?
Debit bad debtsCredit accounts receivable
What is the journal entry for Interest due but not received?
debit interest receivablecredit interest income
How do you do a re-class journal?
To perform a re-class journal entry, first identify the accounts that need adjustment due to misclassification. Then, create a journal entry that debits the account that was incorrectly credited and credits the account that should have been credited. Include a clear description to explain the reason for the reclassification. Finally, post the entry to the general ledger to ensure accurate financial reporting.
What is the journal for ganesh issued cheque to us?
The journal entry for a cheque issued to you by Ganesh would typically involve recording the receipt of cash or bank deposit. The entry would be: Debit Cash/Bank Account and Credit Ganesh's Account. This reflects the increase in your cash or bank balance due to the cheque received from Ganesh.
When do you Record an expense as a journal entry?
In accrual accounting, expenses are recorded as you get them, so say receive your Utilities Bill due the next month, you record it immediately.For example I have a $500 Utility Bill it's June 28th, the bill isn't due until say July 15th, the entry would be;Utility Expense (debit) $500Utilities Payable (credit) $500On July 15th when the bill is paid you adjust the entry as follows;Utilities Payable (debit) $500Cash (credit) $500In Cash Basis Accounting the expense isn't recorded on the books until the bill is actually paid and the entry would be;Utilities Expense (debit) $500Cash (credit) $500
What does vendor credit quickbooks mean?
In accounting, the deduction of a payment made by a debtor from an amount due. In the General Journal Entry window, you enter credits in the Credit column. An example would be if the electric company gave your business a $50 credit off your bill (instead of a $500 bill, you would have a $450 bill).
HOW DO YOU RECORD A JOURNAL ENTRY FOR A NSF FROM THE BANK?
To record a journal entry for a Non-Sufficient Funds (NSF) check from the bank, you would typically debit the Accounts Receivable account to reverse the payment that was previously recognized, indicating that the funds were not received. Additionally, you would credit the Cash account to reflect the decrease in cash due to the NSF check being returned. This entry effectively reverses the earlier transaction where the payment was recorded.
What is the journal entry in purchasing software?
The journal entry for purchasing software involves debiting the software asset account to reflect the cost of the software and crediting the cash or accounts payable account depending on the method of payment. This entry recognizes the increase in assets due to the software purchase and the corresponding decrease in cash or increase in liabilities.
