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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 journal entry accrues interest expense?
DR - Interest Expense CR - Interest Payable
What is the journal entry to reverse an accrued expense?
Payable Account XXX Expense Account XXX
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
What is the journal entry for accrued expense?
basic salary 21967 / salary of September
What is the journal entry for salary?
[Debit] Salary expense [Credit] Cash / bank
