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What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
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 are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
What is Journal phase of accounting?
Journal phase of accounting is to journalize the business transaction in Journal as a first record in books of accounts.
What transaction is found first on accounting record?
The "journal" is the first transaction found on the accounting record.
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
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 are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
Cash disbursement journal is used to record?
To record cash payment bill.
What the accounting journal entries to record purchase of basketball?
debit basketballcredit cash
What are the accounting journal entries to record donated equipment?
debit assetcredit donations
What happens if you fail to record payment of an expense in accounting?
It would appear as if the payment is still due.
What are the accounting journal entries to record installiation of equipment?
debit installation chargescredit cash
