we start it with a date,write about the topic using ''I''
journal entry to write off a loan
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
we start it with a date,write about the topic using ''I''
Journal Entry: Orientation Reflection
dear ........................
example suman moters of rs 10000 is write off then what is the entry
Entry On the Buyer Side; Dr. A/P (rebated amount) CR. Puchase Disc Is this the right entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
debit Retained earningscredit loan to company
Debit bankCredit retained earnings
Debit notes payableCredit cash /bank
Debit retained earnings / amortizationCredit goodwill account