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When a business pays cash on account a liability account is?
reduceds
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
When a customer pays on their account is it a credit or a debit to the customers account?
debit a/r credit cash
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
When a business pays cash on account a liability account is?
reduceds
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
When a customer pays on their account is it a credit or a debit to the customers account?
debit a/r credit cash
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
What is the journal entry when a customer pays their account?
(Debit) Cash xxxx (Credit) Accounts receivable xxxx
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.
Bob Pays Cash 4 Clothes?
Bob Pays Cash 4 Clothes
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.
