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Should accounts receivable be credited in the journal when it is decreased?
Yes because A/R is an asset and assets are credited in the journal/ledger when they decrease
What do you call the subsidiary ledger where individual accounts with customers are included?
asset ledger accounts receivable ledger
Would a credit entry to the accounts receivable ledger account would make the balance?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
Would a credit entry to the accounts receivable ledger account would make the balance increase?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
Journal entry of credit purchase of asset?
Debit assetsCredit accounts payable
The cash account in the depositor's ledger is a?
In the depositor's ledger, its cash account is an asset with a debit balance. Account assets also includes accounts receivable and inventories.
What is profit without cash in accounts?
Asset acquisition, debt reduction, distribtuions to the owner / partner(s) / sharholder(s) all represent profit. Asset acquisition, debt reduction, distribtuions to the owner / partner(s) / sharholder(s) all represent profit.
What is the proper journal entry for purchasing a computer on account?
[Debit] Computer Asset Account [Credit] Accounts payable account
How do you record in books of account sale of land on credit?
The journal entry is as follows: [Debit] Accounts Receivable XXXX [Credit] Land XXXX This entry is only affecting the balance sheet accounts by decreasing one asset account and increasing another asset account. When cash is received, the journal entry is as follows: [Debit] Cash/Bank XXXX [Credit] Accounts receivable XXXX
What does Brookfield Asset Management specialize in?
One will find that the Brookfield Asset Management team specializes in management of institutional accounts such as ownership, acquisition and management. The senior investment team oversees management of investment strategies.
Where you create ledger furniture in Tally?
Under Ledger : Furnitures & Fixture under : Fixed Asset
What is journal entries when owner withdraw asset on sales price?
general journal
