reduceds
Owners Drawing account, which is owners equity and is debited. Cash, which is an asset and thats credited.
Debited.
[Debit] Truck account xxxx [Credit] Cash / bank xxxx
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.
debit a/r credit cash
Owners Drawing account, which is owners equity and is debited. Cash, which is an asset and thats credited.
Debited.
[Debit] Truck account xxxx [Credit] Cash / bank xxxx
A business pays its employees out of their profits. If a business isn't doing well, they usually lay off some of their employees.
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.
debit a/r credit cash
INCREASE
[Debit] Equipment account [Credit] Cash / bank
[Debit] cash / bank [credit] accounts receivable
type of account is decreased when a company pays its employees with cash?
Debit cash / bankCredit accounts receivable
[Debit] cash / bank [credit] accounts receivable