debit electricity bill
credit bank
BY VENDOR Dr TO BANK Cr
debit bankcredit accounts receivable
Debit bankCredit accounts receivable
debit electricity billcredit bank
[Debit] Accounts payable xxxx [Credit] bank account xxxx
BY VENDOR Dr TO BANK Cr
debit bankcredit accounts receivable
Debit bankCredit accounts receivable
debit electricity billcredit bank
[Debit] Accounts payable xxxx [Credit] bank account xxxx
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.
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.
Debit rentCredit bank
what is the entry for an excess payment from customer
Debit electricity expensesCredit cash / bank
Debit accounts payable/ expensesCredit bank
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