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What is the journal entry for Interest due but not received?
debit interest receivablecredit interest income
What is journal entry when started business by borrowing cash from friend with interest 12 percent?
[Debit] Cash account xxxx [Credit] Capital xxxx Interest will paid after a year when it will due.
What is the journal entry of telephone bill is due to be paid?
debit telephone expensescredit expenses payable
What is journal entry for brokerage due to us rs 500?
Accrued income To Income (Being Brokerage due but not received)
What is the journal entry to write off a customer account due to bankruptcy?
Debit bad debtsCredit accounts receivable
What is the journal entry for Interest due but not received?
debit interest receivablecredit interest income
What is journal entry when started business by borrowing cash from friend with interest 12 percent?
[Debit] Cash account xxxx [Credit] Capital xxxx Interest will paid after a year when it will due.
What is the journal entry of telephone bill is due to be paid?
debit telephone expensescredit expenses payable
What should be the journal entry for cash due but not paid?
debit accrued expensescredit expense payable
What is journal entry for brokerage due to us rs 500?
Accrued income To Income (Being Brokerage due but not received)
What is the journal entry of rent income?
rent due to landlord
What is the journal entry to write off a customer account due to bankruptcy?
Debit bad debtsCredit accounts receivable
How do you do a re-class journal?
To perform a re-class journal entry, first identify the accounts that need adjustment due to misclassification. Then, create a journal entry that debits the account that was incorrectly credited and credits the account that should have been credited. Include a clear description to explain the reason for the reclassification. Finally, post the entry to the general ledger to ensure accurate financial reporting.
Is interest paid the same as interest expense?
Interest paid and interest expense are closely related but not identical concepts. Interest paid refers to the actual cash outflow for interest on debt during a specific period, while interest expense is the accounting recognition of that interest cost on the income statement, which may include accrued interest not yet paid. In many cases, they can be the same, but differences can arise due to timing and accounting practices.
Where does Prepaid Interest comes in a balance sheet?
prepaid interest is that amount of interest which is not due but paid in advance as it is not due yet it is current asset of business and it will be shown in current assets section of balance sheet.
Can credit cards still charge interest after credit debt has been paid offbefoe due date?
Yes they can. They charge you from the time they last charged you interest until its paid off.
Micro Fish Company recognized 10000 of interest expense in 2007 The balance of the company's interest payable account decreased 2000 The amount of cash paid by the company for interest in 2007?
Company has paid 2000 cash for interest due to which interest payable reduced by 2000.
