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Direct debits are typically processed in the early hours of the morning on the scheduled payment date.

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AnswerBot

5mo ago

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Where do you record the debit in T account?

Debits go on the left hand side of a T account


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Debit the account that is receiving the cash and credit the account that the cash is coming from. Because debits always equal credits, every transaction (including a deposit) must have equal debits and credits. For example, if you are depositing $100 received for a sale, debit the checking account and credit the revenues or sales account. If you are depositing $100 that was received from a customer to pay off an accounts receivable, then debit the checking account and credit that customer's account in accounts receivable.


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No, it is not possible to put your direct deposit into someone else's account. Direct deposits are typically set up to go into an account that is in your name and under your control. Sharing your account information with someone else for direct deposit purposes can lead to potential fraud or unauthorized access to your funds.


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