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Debit Accounts Payable
Credit cash / bank
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Paid 600 to Royal Company on account. what is the journal entry of this transaction?
The journal entry is Account Payable - Royal Company (debit) 600 Cash (credit) 600
When an account is paid in full what entry needs to be recorded in the journal?
debit cash bankcredit accounts receivable
What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
What is the journal entry for paid interest on the bank loan?
The journal entry for paid interest on a bank loan involves debiting the Interest Expense account and crediting the Cash account. For example, if $500 in interest is paid, the entry would be: Debit: Interest Expense $500 Credit: Cash $500 This reflects the expense incurred for borrowing and the reduction in cash due to the payment.
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
Paid 600 to Royal Company on account. what is the journal entry of this transaction?
The journal entry is Account Payable - Royal Company (debit) 600 Cash (credit) 600
When an account is paid in full what entry needs to be recorded in the journal?
debit cash bankcredit accounts receivable
What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
What is the journal entry to increase paid up capital?
debit cash /bankcredit capital account
How do you make a journal entry paid business debt on account?
Debit debt accountCredit cash / bank
What is the journal entry for paid interest on the bank loan?
The journal entry for paid interest on a bank loan involves debiting the Interest Expense account and crediting the Cash account. For example, if $500 in interest is paid, the entry would be: Debit: Interest Expense $500 Credit: Cash $500 This reflects the expense incurred for borrowing and the reduction in cash due to the payment.
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
What is the Journal entry of salary paid to employee?
The journal entry for salary paid to an employee typically involves debiting the Salary Expense account and crediting the Cash or Bank account. For example, if an employee is paid $3,000, the entry would be: Debit: Salary Expense $3,000 Credit: Cash/Bank $3,000 This reflects the expense incurred for employee compensation and the reduction of cash or bank balance.
What is the journal entry for advisory fees?
To record advisory fees, the journal entry typically involves debiting an expense account and crediting a liability or cash account, depending on whether the fees are paid immediately or will be paid later. For example, if the advisory fees are paid in cash, the entry would be: Debit: Advisory Fees Expense Credit: Cash If the fees are to be paid later, the entry would be: Debit: Advisory Fees Expense Credit: Accounts Payable
What is the journal entry for paid rent for the month?
The journal entry for paid rent for the month typically involves debiting the Rent Expense account and crediting the Cash account. For example, if the rent payment is $1,000, the entry would be: Debit Rent Expense $1,000 Credit Cash $1,000 This reflects the expense incurred for using the property and the reduction in cash due to the payment.
Journal entry of entry tax paid?
[Debit] Tax paid [Credit] Cash / bank
What is the journal entry for bill received?
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
