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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 paid rent for the month?
The journal entry for paid rent for the month typically involves debiting the Rent Expense account and crediting the Cash account. For example, if the rent payment is $1,000, the entry would be: Debit Rent Expense $1,000 Credit Cash $1,000 This reflects the expense incurred for using the property and the reduction in cash due to the payment.
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
What is journal entry for rent paid to mohan?
The journal entry for rent paid to Mohan would be recorded as follows: Debit Rent Expense (for the amount paid) Credit Cash or Bank (for the same amount) This entry reflects the expense incurred for using the property and the reduction in cash or bank balance due to the payment.
What is the journal entry for paid interest on the bank loan?
The journal entry for paid interest on a bank loan involves debiting the Interest Expense account and crediting the Cash account. For example, if $500 in interest is paid, the entry would be: Debit: Interest Expense $500 Credit: Cash $500 This reflects the expense incurred for borrowing and the reduction in cash due to the payment.
WHAT IS THE JOURNAL ENTRY FOR SALES DISCOUNTS?
expense
What is accounting journal entry for stamp duty?
A stamp duty is typically recorded as an expense in the accounting journal. The journal entry would involve debiting the appropriate expense account (e.g., "Stamp Duty Expense") and crediting the cash or accounts payable account, depending on whether the payment is made immediately or deferred. For example, if a company pays $1,000 in stamp duty, the entry would be: Debit: Stamp Duty Expense $1,000 Credit: Cash/Accounts Payable $1,000.
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
WHAT IS THE ACCOUNTING JOURNAL ENTRY TO RECORD AUDIT DISBURSEMENT CHARGE?
To record an audit disbursement charge, the accounting journal entry would typically involve debiting the appropriate expense account (e.g., Audit Expense) and crediting Accounts Payable or Cash, depending on whether the payment is made immediately or will be paid later. The entry would look like this: Debit: Audit Expense Credit: Accounts Payable (or Cash) This reflects the recognition of the expense incurred for the audit services.
