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The journal entry for milk purchased by issuing a cheque would be recorded as follows:
Debit: Milk Inventory (or Purchases) account for the amount of the purchase
Credit: Bank (or Cash) account for the same amount
This entry reflects the increase in inventory (or purchases) and the decrease in cash due to the payment made via cheque.
What else can I help you with?
What is the journal entry for Issued cheque in favour of Mr jain and bro and discount allowed by them?
The journal entry for issuing a cheque in favor of Mr. Jain and Bro, along with the discount allowed, would involve two components: recognizing the payment and recording the discount. The entry would be: Debit: Mr. Jain and Bro (Accounts Payable) - Amount of the cheque Credit: Bank/Cash - Amount of the cheque Credit: Discount Allowed - Discount amount This reflects the reduction in liability due to the payment and the expense incurred for the discount.
What is a journal entry to buy equipment with common stock?
Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank
What is the journal entry for rent paid by cheque?
Debit rentCredit bank
Journal entry for Payment of credit purchase by a Cheque?
BY VENDOR Dr TO BANK Cr
What is the journal entry for stale-dated cheque?
Debit accounts payable/ expensesCredit bank
What is the journal entry for Issued cheque in favour of Mr jain and bro and discount allowed by them?
The journal entry for issuing a cheque in favor of Mr. Jain and Bro, along with the discount allowed, would involve two components: recognizing the payment and recording the discount. The entry would be: Debit: Mr. Jain and Bro (Accounts Payable) - Amount of the cheque Credit: Bank/Cash - Amount of the cheque Credit: Discount Allowed - Discount amount This reflects the reduction in liability due to the payment and the expense incurred for the discount.
What is a journal entry to buy equipment with common stock?
Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank
What is the journal entry for rent paid by cheque?
Debit rentCredit bank
Journal entry for Payment of credit purchase by a Cheque?
BY VENDOR Dr TO BANK Cr
What is the journal entry for stale-dated cheque?
Debit accounts payable/ expensesCredit bank
What will the journal entry for business started with 30000 cash and 100000 bearer cheque?
suman
What is the journal entry for post dated cheque is received?
debit bankcredit accounts receivable
What is the journal entry payment of electricity bill by cheque?
debit electricity billcredit bank
Journal entry for post dated cheque?
Debit expenses / accounts payableCredit bank
What is the journal entry of cheque you received from your cliant as payment?
debit bankcredit accounts receivable
What is the journal entry for cheque received towards payment from customer?
Debit bankCredit accounts receivable
What is the journal entry for this paid porter 48650 by cheque?
debit porter 48650credit bank 48650
