Debit Accounts Payable
Credit cash / bank
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
debit telephone expensescredit expenses payable
Electrycity bill A/C Debit To Cash A/C Credit
[Debit] Utility bill 160 [Credit] Cash 160
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
debit telephone expensescredit expenses payable
Electrycity bill A/C Debit To Cash A/C Credit
[Debit] Utility bill 160 [Credit] Cash 160
[Debit] Tax paid [Credit] Cash / bank
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
debit electricity billcredit bank
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.
capital
Debit cash / bankCredit paid in capital
Journal entry is as follows: [Debit] David A/c xxxx [Credit]Andrew A/c xxxx
debit salary expensecredit cash