postage a/c dr
to cash a/c (debit all expenses and losses)
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
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
postage stemps a/c .................... drTo cash a/c
[Debit] Tax paid [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.
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
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 interest expenseCredit cash
Debit accounts payableCredit cash
Debit rentCredit bank
debit salary expensecredit cash