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When a refund is issued by Amazon, does the refunded amount go back to the original credit card used for the purchase?
Yes, when a refund is issued by Amazon, the refunded amount typically goes back to the original credit card used for the purchase.
Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?
The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.
What happens when you make a purchase using a credit card?
When you make a purchase using a credit card, the credit card company pays the merchant on your behalf. You then owe the credit card company the amount of the purchase, which you must pay back according to the terms of your credit card agreement.
What is the charge on my credit card?
The charge on your credit card is the amount of money that has been deducted from your available credit limit for a purchase or transaction.
Can you purchase an item with a credit card and then return it for cash?
No, you cannot typically purchase an item with a credit card and then return it for cash. Most stores will only refund the amount back to the credit card or provide store credit.
When a refund is issued by Amazon, does the refunded amount go back to the original credit card used for the purchase?
Yes, when a refund is issued by Amazon, the refunded amount typically goes back to the original credit card used for the purchase.
What is the source document used for a credit purchase?
The original of tax invoice
Are you responsible for your dead spouses credit card debt if you own a house together?
Your dead spouse's estate is responsible for the credit card debt. In practice, this may amount to "you are responsible for it."
Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?
The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.
What happens when you make a purchase using a credit card?
When you make a purchase using a credit card, the credit card company pays the merchant on your behalf. You then owe the credit card company the amount of the purchase, which you must pay back according to the terms of your credit card agreement.
What is the charge on my credit card?
The charge on your credit card is the amount of money that has been deducted from your available credit limit for a purchase or transaction.
Is the joint owner on a credit card responsible for the debts?
Answer credit cardfrom past experience with my mother in law, you are responsible for the credit card balance The surviving joint account holder would be responsible for the entire amount owed.Credit Card DebtUnfortunantly you will be responsible for all of it.
What is the Journal entry for gain on sale of equipment?
debit accumulated depreciationdebit cashcredit assetcredit gain on sale of assetDebit to Cash (or Accounts Receivable) for the sale Price. Debit to Accumulated Depreciation for the total amount of depreciation charged against that piece of equipment since its original purchase date. Credit to Equipment account for the original purchase price. Credit to Gain on Sale of Fixed Asset (or Other Income) for the difference needed to balance the entry.
If your father gets an extra credit card for you on his account to purchase items for him can you be held responsible for his debt?
No, unless you are responsible for his account already.
Can you purchase an item with a credit card and then return it for cash?
No, you cannot typically purchase an item with a credit card and then return it for cash. Most stores will only refund the amount back to the credit card or provide store credit.
What is error of original entry?
You enter the wrong amount You confuse debit and credit You debit or credit wrong account?
What happens if I return something I bought with a credit card?
If you return something you bought with a credit card, the merchant will typically refund the purchase amount back to your credit card. This will result in a credit on your credit card statement, reducing the amount you owe.
