0
What else can I help you with?
What journal entry when customer pays account?
[Debit] cash / bank [credit] accounts receivable
What is the journal entry for when a customer pays their account?
[Debit] cash / bank [credit] accounts receivable
When A pays to B of rs 500 on behalf of C pass the journal entry?
(debit) A account 500 (Credit) C account 500
What is the journal entry when a company pays a utility bill using double entry accounting system?
[Debit] Utility bill account xxxx [Credit] Cash / bank account xxxx
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
What journal entry when customer pays account?
[Debit] cash / bank [credit] accounts receivable
What journal entry happens when customer pays account?
Debit cash / bankCredit accounts receivable
What is the journal entry for when a customer pays their account?
[Debit] cash / bank [credit] accounts receivable
When A pays to B of rs 500 on behalf of C pass the journal entry?
(debit) A account 500 (Credit) C account 500
What is the journal entry when a company pays a utility bill using double entry accounting system?
[Debit] Utility bill account xxxx [Credit] Cash / bank account xxxx
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
What is the journal entry when the owner pays money from business to buy a truck?
[Debit] Truck account xxxx [Credit] Cash / bank xxxx
What is the journal entry dividends paid to shareholders?
The journal entry for dividends paid to shareholders typically involves a debit to the Dividends Payable account and a credit to the Cash account. This reflects the reduction in liabilities as the company pays out dividends and the decrease in cash. For example, if a company pays $1,000 in dividends, the entry would be: Debit Dividends Payable $1,000 and Credit Cash $1,000. This transaction indicates that the company has fulfilled its obligation to distribute profits to its shareholders.
What needs to happen in account receivable when a customer pays their account?
When a customer pays their account, the account receivable department needs to put the amount of the payment into the computer. A receipt should also be sent to the customer.
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.
What needs to happen when the customer pays on the account?
When a customer pays on an account it needs to be documented immediately and if paying in person a receipt of payments needs to be given to the person who is paying.
What entry records the payment of an account payable?
The entry to record the payment of an account payable typically involves debiting the Accounts Payable account to decrease the liability and crediting the Cash account to reflect the outflow of cash. For example, if a company pays $1,000 to settle an account payable, the journal entry would be: Debit Accounts Payable $1,000 and Credit Cash $1,000. This entry reflects that the company has fulfilled its obligation, and cash has been reduced accordingly.
