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what is the entry for an excess payment from customer

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10y ago
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10y ago

debit expenses
credit cash

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Q: What is journal entry for expense payment?
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Related questions

What would be the journal entry of payment?

Debit expense or accounts payableCredit cash / bank


Which journal entry records payment for supplies?

Debit supplies inventoryCredit cash / bank


What is the journal entry for prepaid expense when cash is not paid?

prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.


What is the journal entry for payment of accrued expense?

debit accrued expensescredit cash / bank


WHAT IS THE JOURNAL ENTRY FOR SALES DISCOUNTS?

expense


What is the journal entry to reverse an accrued expense?

Payable Account XXX Expense Account XXX


What journal entry accrues interest expense?

DR - Interest Expense CR - Interest Payable


How do you made a journal entry for loan repayment schedule?

There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.


What is an accrual journal entry?

Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.


How do you record a journal entry to reverse the expense booked?

debit cash / bank / accounts payablecredit expense account


Is a compound entry in the general journal is made to close expense accounts?

A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.


What is the journal entry for salary?

[Debit] Salary expense [Credit] Cash / bank