I received letter of credit from my customer how i have to enter my entries
debit cashcredit accounts receivable
[Debit] Depreciation Account [Credit] Assets Account
[Debit] Cash [Credit] Donation
debit accounts receivablecredit land account
debit: expense account credit: account payable (vendor)
You record he credit entry for transaction (a) 5/1 in the journal as
To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.
[Debit] Depreciation Account [Credit] Assets Account
debit cashcredit accounts receivable
There are various ways to record a journal entry when the inventory is thrown away. The standard entry is to debit the cost of goods sold and credit the allowance for the obsolete inventory.?æ
[Debit] Cash [Credit] Donation
debit accounts receivablecredit land account
L/C related all journal entries
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
debit: expense account credit: account payable (vendor)
Type your answer here... party a/c Dr. to sales
When recording a debit entry into a journal you must always list the debit first. The credit needs to be second and should always be indented.