debit purchases 1000
credit cash 1000
The bad debt is recorded against the asset, which is the debtors control account, or account recievable, for example company A is owed $1000 by company B, during the year, company B approaches company A and states that it is going out of business and can only pay them $600, therefore the bad debt is $400 Credit the debtors account of company b with $400 and debit bad debt expense $400
If Henry had a credit limit of 1000 dollar and charged 847 dollars to his credit card, without exceeding his credit limit he would have 153 dollars credit available for his next purchase.c>1000-847
1000 kwanzas
1000 lira
1000
Debit ram 1000Credit cash 1000
sundry debtors A/c........DR 1000 TO Sales A/c 1000
goods sold to haroon overcasted by 1000
debit rent expense 1500credit cash 500credit bank 1000
[Debit] wages Expenses 1000 [Credit] Cash 1000
Lost by theft drEmbazzeled cash drTo cash account
Insurance acc Dr 1000 Cash acc Cr 1000 P&L acc Dr 1000 To insurance acc Cr 1000
debit accounts receivable 950credit Sales revenue 950
A journal entry adjustment is a manual accounting entry made to correct errors or update account balances in the company's financial records. These adjustments are typically made at the end of an accounting period to ensure that financial statements accurately reflect the company's financial position.
Example: Accounts payable balance = 1000 Cash Balance = 1000 Transaction 100 paid to creditors from cash Journal Entry [Debit] Accounts payable 100 [Credit] Cash 100 New Accounts balances Accounts payable 900 Cash 900
purchases a/c 1000...dr. cash a/c 1000...cr.
1000