Debit software purchase account
Credit cash / bank
The journal entry for purchasing software involves debiting the software asset account to reflect the cost of the software and crediting the cash or accounts payable account depending on the method of payment. This entry recognizes the increase in assets due to the software purchase and the corresponding decrease in cash or increase in liabilities.
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
what is the journal entry for purchase returns
[Debit] Purchase Return [Credit] Purchases
debit assetsCredit liabilitiesCredit cash
The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX
There is no journal entry for unsubscribed capital as this is that portion of capital which is company has offered to shareholders for purchase but nobody has purchased that capital so no transaction incurred and hence no journal entry required.
debit assetscredit cash / bank
Debit bookCredit cash / bank
debit accounts payablecredit purchase returns
debit cash / bank / accounts payablecredit purchase return
debit equipmentcredit cash