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The payment for the monthly rent will require an entry that debits the Rent Expense account to reflect the expense incurred for the period. Simultaneously, it will credit the Cash or Bank account to indicate the outflow of cash. This ensures that the financial records accurately represent the company's expenses and cash position.
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What is the Date Charge Payment Balance Notes 131 75 0 75 Monthly fee 215 6 75 6 Payment 2 movies purchased 228 100 0 106 Monthly fee Repair fee 331 87 0 193 Monthly fee 4 movies purchased?
The data provided seems to represent a series of transactions with associated charges, payments, balances, and notes. Each entry indicates a date charge, followed by the payment amount, remaining balance, and specific notes about the transactions, such as monthly fees or movie purchases. For instance, on one date, a monthly fee and repair fee were charged alongside the purchase of 4 movies, affecting the overall balance.
What does an amortization table show me?
An amortization table is a report of all pertinent information regarding a loan including the terms of the loan and a list of each calculated loan payment. Each loan payment entry could show:the amount of principal due as of this paymentamount of the paymentportion of payment used as interest (the amount of interest in this payment)portion of payment that reduces the principal for the next payment entry
What is the entry of installment pay?
The entry for an installment payment typically involves recording the sale and recognizing the accounts receivable. When a customer makes an installment payment, the accounting entry would debit cash for the amount received and credit accounts receivable for the same amount. Additionally, if interest is involved, interest income may also be recorded as a separate entry. This ensures that both the revenue from the sale and the cash received are accurately reflected in the financial records.
What would the journal entry be for payment received for goods previously sold on credit?
debit cash / bankcredit accounts receivable
What is Cr Crd Pmt mean on bank statement?
"Cr Crd Pmt" on a bank statement typically stands for "Credit Card Payment." It indicates a transaction where a payment has been made toward a credit card balance. This entry reflects a reduction in the outstanding balance of the credit card account and may appear when you make a payment from your bank account to your credit card issuer.
What entry is made when a payment is made to a creditor?
When a payment is made to a creditor, the following journal entry is recorded in the books of accounts
The journal entry to record the payment of a monthly utility bill would include?
A debit to capital and and a credit tocash
What is journal entry for expense payment?
what is the entry for an excess payment from customer
Does a stock split require a journal entry?
Stock split require no journal entry rather memorandum entry is required about transaction.
What is the Date Charge Payment Balance Notes 131 75 0 75 Monthly fee 215 6 75 6 Payment 2 movies purchased 228 100 0 106 Monthly fee Repair fee 331 87 0 193 Monthly fee 4 movies purchased?
The data provided seems to represent a series of transactions with associated charges, payments, balances, and notes. Each entry indicates a date charge, followed by the payment amount, remaining balance, and specific notes about the transactions, such as monthly fees or movie purchases. For instance, on one date, a monthly fee and repair fee were charged alongside the purchase of 4 movies, affecting the overall balance.
Which items found on a bank reconciliation doesn't require an adjusting entry?
Balance doesn't require an adjusting entry.
What is double entry bookkeeping for a hospital?
Double entry is a transaction in which the payment is established in two accounts instead of 1 as to single entry.
What is the entry for bill disconting dishonour?
The entry for a bill discounting to be dishonored is made when the drawee refuses to accept or make payment on the bill. It is dishonored by non-acceptance or non-payment.
What is the Journal entry for purchase of asset by advance payment?
Debit advance payment for assetCredit cash / bank
What is the journal entry for down payment of cash?
[Debit] Down payment xxxx [Credit] cash xxxx
Where you can entered drawing entry in Tally 9.0?
payment voucher
How can you pass entry for cash payment?
cash dr. to party.
