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What do you mean by purchase in account?

Purchase on account means purchases of items on credit basis and payment is done in future time period.


Where do you record a purchase of supplies on account?

This should be recorded in the cash payment journal.


When a purchase on account is made the invoice becomes what?

When a purchase on account is made, the invoice becomes a legal document detailing the transaction between the buyer and the seller. It serves as a record of the goods or services purchased, the agreed-upon terms of payment, and any applicable discounts or fees. The invoice also establishes a financial obligation for the buyer to pay the seller within the specified time frame.


Once your payment request in Payment Plus is final-approved how does the supplier receive payment?

go to the payment request’s Payment Plus tab to get the account information that I give to the supplier when I make the purchase


How does the supplier receive payment once your payment request in Payment Plus is final-approved?

go to the payment request’s Payment Plus tab to get the account information that I give to the supplier when I make the purchase


How does supplier receive payment once your payment request in Payment Plus is final-approved?

go to the payment request’s Payment Plus tab to get the account information that I give to the supplier when I make the purchase


Is Purchase Discount revenue or expense?

Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.


What is the payment requirement for customers in a margin account according to Regulation T?

The payment requirement for customers in a margin account according to Regulation T is a minimum of 50 of the purchase price of securities bought on margin.


How do you remove payment from suspense account to customers account?

payment in suspense to customers account as receivable account


How to pay in PayPal?

To pay with PayPal, you need to link your bank account or credit card to your PayPal account. When making a purchase, select PayPal as your payment option and log in to your account to complete the transaction.


Does Minecraft charge the internet?

No, It shouldn't have "Charged the internet" the only payment you have to go through is when you purchase a premium Minecraft account.


How do you record payment of debenture interest?

To record the payment of debenture interest, you need to make a journal entry that debits the interest expense account and credits the cash account. This reflects the outflow of cash for the interest payment. Additionally, if the interest is accrued but not yet paid, you may also need to adjust the accrued interest payable account accordingly. Always ensure that the amount recorded matches the terms specified in the debenture agreement.