0
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.
What else can I help you with?
What is the journal entry for down payment of cash?
[Debit] Down payment xxxx [Credit] cash xxxx
What journal entry is a down payment?
Debit down paymentCredit Cash
What is the difference between advance payment and down payment?
Down Payment: Payment, which is a loan in advance with no securities for the borrower or the buyer. Advance Payment: Payment which is connected with respective responsibilities. That means that the borrower or buyer gets some securities from the lender or vendor.
What is the journal entry to made a down payment of cash and issued note payable?
cash book
What are the accounting journal entries to record a down payment of inventory in one year and the receipt of the merchancise in the following year?
debit down paymentcredit bank
What is the journal entry for down payment of cash?
[Debit] Down payment xxxx [Credit] cash xxxx
What journal entry is a down payment?
Debit down paymentCredit Cash
What is the difference between advance payment and down payment?
Down Payment: Payment, which is a loan in advance with no securities for the borrower or the buyer. Advance Payment: Payment which is connected with respective responsibilities. That means that the borrower or buyer gets some securities from the lender or vendor.
What is the journal entry to made a down payment of cash and issued note payable?
cash book
What are the accounting journal entries to record a down payment of inventory in one year and the receipt of the merchancise in the following year?
debit down paymentcredit bank
What is the journal entry for purchase and made a down payment of cash and issued a note payable?
[Debit] Purchases xxxx [Credit] Cash/bank xxxx (For Down payment) [Credit] Notes Payable xxxx
What is the journal entry for booking a car purchase?
Credit Bank or Accounts Payable, Debit Fixed Assets.
Accounting entry for loan drawdown with existing credit facility from bank?
When a loan is drawn down from an existing credit facility, the accounting entry typically involves debiting the cash or bank account to reflect the increase in cash. Simultaneously, a credit entry is made to a loan payable or liability account to recognize the obligation to repay the borrowed amount. This entry ensures that the financial statements reflect both the inflow of cash and the corresponding liability incurred.
What is the minimum down payment required for a car purchase with a 50 down payment?
The minimum down payment required for a car purchase with a 50 down payment is 50 of the total cost of the car.
How does the down payment affect the monthly payment amount when purchasing a car?
The down payment on a car reduces the amount of money you need to borrow, which can lower your monthly payment amount. A larger down payment typically results in a smaller monthly payment, while a smaller down payment usually leads to a higher monthly payment.
What is the down payment on a bugatti?
A down payment for select buyers is $360,000
What is the duration of No Down Payment?
The duration of No Down Payment is 1.75 hours.
