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What two accounts are affected when a business pays cash to the owner for personal use?

Owners Drawing account, which is owners equity and is debited. Cash, which is an asset and thats credited.


When a comapany pays a bill the cash account WILL BE?

Debited.


What is the journal entry when the owner pays money from business to buy a truck?

[Debit] Truck account xxxx [Credit] Cash / bank xxxx


How does a business pay its employees?

A business pays its employees out of their profits. If a business isn't doing well, they usually lay off some of their employees.


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.


When a customer pays on their account is it a credit or a debit to the customers account?

debit a/r credit cash


When a business pays cash for salaries assets decrease and expenses?

INCREASE


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 accounts are included in stockholder equity?

type of account is decreased when a company pays its employees with cash?


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