cash a/c to sales a/c
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
(debit) A account 500 (Credit) C account 500
debit cash 500credit equity shares 500
[Debit] Cash 1500 [Debit] Tools 500 [Credit] Capital 2000
debit cash / bank 4500credit asset 4000credit profit 500
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
(debit) A account 500 (Credit) C account 500
debit cash 500credit equity shares 500
By entering the transaction in a reverse way. Ex: If A account is debited with USD500 and B account is credited with USD 500, to reverse or eliminate the effect of this entry, you Debit B account with USD 500 and credit A account with USD 500.
[Debit] Cash 1500 [Debit] Tools 500 [Credit] Capital 2000
debit cash / bank 4500credit asset 4000credit profit 500
debit rent expense 1500credit cash 500credit bank 1000
490
It depends on the kind of discount and agreement that has been agreed upon in the sale transaction. Here is an example of a journal entry for discount for a normal credit sale transaction: Accounts receivable 9000 (dr) Discount from sale 500 (dr) Sales 9500 (cr)
By Cash a/c dr. 5000 By Tds receivable a/c dr. 500 To Debtors a/c cr. 5500
Journal entry is as follows: [Debit] Cash 525 [Credit] Sales 500 [Credit] Sales tax payable 25
I'm not exactly sure what you are asking, the journal entry for a cash payment to pay down an account payable is as follows:Account Payable (debit) $$$$Cash (credit) $$$$Paying down an account payable is paying partial, so take for example you owe $1500 for a computer you purchased on account and you wish to pay $500 towards the balance. The Journal Entry would be.Account Payable (debit) $500Cash (credit) $500