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What is the journal entry for purchase and made a down payment of cash and issued a note payable?
[Debit] Purchases xxxx [Credit] Cash/bank xxxx (For Down payment) [Credit] Notes Payable xxxx
What is the journal entry for issued a note payable?
debit accounts payablecredit notes payable
What is the journal entry for rent with no cash payment?
Debit rent expenseCredit rent payable
When a bond issued at face value is retired what is the journal entry?
When a bond issued at face value is retired, the journal entry involves debiting the Bonds Payable account for the face value of the bond and crediting the Cash account for the same amount. The entry reflects the payment of the bond's principal amount to the bondholders. If there are no premiums or discounts involved, this is a straightforward transaction, as no gain or loss is recorded. The journal entry would look like this: Debit: Bonds Payable Credit: Cash
What is the journal entry for booking a car purchase?
Credit Bank or Accounts Payable, Debit Fixed Assets.
What is the journal entry for purchase and made a down payment of cash and issued a note payable?
[Debit] Purchases xxxx [Credit] Cash/bank xxxx (For Down payment) [Credit] Notes Payable xxxx
What is the journal entry for issued a note payable?
debit accounts payablecredit notes payable
What is the journal entry for rent with no cash payment?
Debit rent expenseCredit rent payable
How do you make a journal entry recording an annual interest payment on a note payable?
debit interest expensecredit notes payable
When a bond issued at face value is retired what is the journal entry?
When a bond issued at face value is retired, the journal entry involves debiting the Bonds Payable account for the face value of the bond and crediting the Cash account for the same amount. The entry reflects the payment of the bond's principal amount to the bondholders. If there are no premiums or discounts involved, this is a straightforward transaction, as no gain or loss is recorded. The journal entry would look like this: Debit: Bonds Payable Credit: Cash
What is the journal entry for booking a car purchase?
Credit Bank or Accounts Payable, Debit Fixed Assets.
What are the proper Accounting journal entries for dividends payable?
[Debit] Dividend expense [Credit] Dividend payable 2nd entry at time of payment Debit Dividend payable Credit Cash
What is the journal entry for paid back a portion of the accounts payable?
To record the payment of a portion of accounts payable, the journal entry would debit the Accounts Payable account to decrease the liability and credit the Cash account to reflect the cash outflow. For example, if $1,000 of accounts payable is paid, the entry would be: Debit: Accounts Payable $1,000 Credit: Cash $1,000 This entry reduces both the outstanding liability and the cash balance.
What is journal entry passed on payment by cheque to vendor?
[Debit] Accounts payable xxxx [Credit] bank account xxxx
What is the journal entry when cheque issued to creditors is dishonoured?
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
How do you journalize a payment in kind journal entry?
issued check for newspaper advertising for $200
What is the journal entry for payment made to creditor?
The journal entry for payment made to a creditor typically involves debiting the accounts payable account to reduce the liability and crediting the cash account to reflect the outflow of cash. For example, if a company pays $1,000 to a creditor, the entry would be: Debit Accounts Payable $1,000 Credit Cash $1,000 This entry decreases both the company's liabilities and its cash balance.
