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What is the journal entry for when a customer pays their account?
Wiki User
∙ 9y ago
[Debit] cash / bank
[credit] accounts receivable
Wiki User
∙ 9y ago
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What journal entry when customer pays account?
[Debit] cash / bank [credit] accounts receivable
What is the journal entry when a customer pays their account?
(Debit) Cash xxxx (Credit) Accounts receivable xxxx
When A pays to B of rs 500 on behalf of C pass the journal entry?
(debit) A account 500 (Credit) C account 500
What is the journal entry when a company pays a utility bill using double entry accounting system?
[Debit] Utility bill account xxxx [Credit] Cash / bank account xxxx
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
What journal entry when customer pays account?
[Debit] cash / bank [credit] accounts receivable
What journal entry happens when customer pays account?
Debit cash / bankCredit accounts receivable
What is the journal entry when a customer pays their account?
(Debit) Cash xxxx (Credit) Accounts receivable xxxx
When A pays to B of rs 500 on behalf of C pass the journal entry?
(debit) A account 500 (Credit) C account 500
What is the journal entry when a company pays a utility bill using double entry accounting system?
[Debit] Utility bill account xxxx [Credit] Cash / bank account xxxx
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
What is the journal entry when the owner pays money from business to buy a truck?
[Debit] Truck account xxxx [Credit] Cash / bank xxxx
What needs to happen in account receivable when a customer pays their account?
When a customer pays their account, the account receivable department needs to put the amount of the payment into the computer. A receipt should also be sent to the customer.
What needs to happen when the customer pays on the account?
When a customer pays on an account it needs to be documented immediately and if paying in person a receipt of payments needs to be given to the person who is paying.
The journal entry to record a note received from a customer to apply on account is?
I'm not sure if I have the question correct. However, I will answer it with what I believe you are asking.If a customer pays a business money to be applied to their account the transaction in the journal is simple.Since you are receiving money (cash) you will debit cash for the amount of payment.Since the customer is paying on money they already owe on account you will credit their Account Receivable for the same amount.In other words, Bob owes Systems Inc. $5,000 and decides to pay $500 towards the accountCash (debit) $500 (this increases your cash by that amount)Account Rec.-Bob (credit) $500 (this will reduce the amount he owes the company)
What needs to happen when a customer pays there account?
issue a receipt
What needs to happen when a customer pays their account in account receivables?
debit revenue and credit receibables
