Debit telephone bill, credit ACcounts payable is

Q: Define the Note Issued for Cash.

A: Promissory Note:   A promissory note is a legal and financial tool that contains a written promise…

Q: Which ones have a credit balance? Bills in arrears Promissory notes receivable in advance

A: The different accounts in the business have normal Debit and credit balance. The assets and expenses…

Q: What account is credited when you record a credit memo for uncollectable receivables? A. Accounts…

A: A credit note is issued the reduce the amount of accounts receivable. Credit note reduce the…

Q: Explain how does the trade credit is offered on open account.

A: Trade credit is the easiest and most important source of short-term finance available to businesses.…

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: Preparing Buyer Journal Entries Prepare journal entries to record the following transactions for…

A: Journal EntryMethod of recording financial transactions in the book of original entry by debiting…

Q: Briefly described the differences between a credit, charger , debit & smart card

A: Credit card is the types of plastic cards which are generally issued by the banks for purchasing…

Q: where would borrowed cash go on transaction worksheet

A: The borrowed cash is the amount of cash received by the entity through many ways - like from banks,…

Q: What accounts are affected when goods are sold on credit? (Check all that apply)…

A: The objective of this question is to identify which accounts are affected when goods are sold on…

Q: For each receipt in the cash book, postings should be made to the   . A. Credit side of the…

A: In accounting, a cash book is a type of ledger that records all cash receipts and payments,…

Q: Describe and use the cash payments journal. What steps are followed in posting from cash payments…

A:

Q: Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank…

A: A bank account is an account with a bank that is used to deposit money and withdraw money. The…

Q: "recorded cash sales" what accounts are used

A: When we sell anything to the customer in cash then cash account debits and revenue of an entity will…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: In sap, Which of the following outgoing payments will not require manual entry of bank account? a.…

A: A financial transaction is an agreement or communication between a buyer and a seller to exchange…

Q: Why should purchases to credit customers and cash receipts from credit customers be quickly…

A: sales can be either cash sales or credit sales. Credit sales will have accounts receivables or…

Q: What is the difference between an account receivable and a note receivable?

A: Receivable: It can be defined as the amount that is owed by the customers from the business.

Q: ash rece

A: cash receipts journal ought to have a history of your money transactions. exploitation your sales…

Q: How to calculate the notes payable

A: Notes payable are long-term liabilities that indicate the money a company owes its financiers—banks…

Q: What are some of the assets and liabilities associated with credit cards?

A: Introduction: A credit card can be defined as a small piece of card which is offered by banks or any…

Q: Write a note on cash discounts.

A:

Q: A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified…

A: A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified…

Q: What is included in the journal entry necessary to record the collection of the cash for a…

A: The journal entries are the first step of accounting that are prepared to record the transactions in…

Q: How did you calculate the deposits and checks outstanding

A: The deposit which are deposited by  company on last date of month may not be reflected the in bank…

Q: how do we record in the cash payment journal for the payment in cash and with the GST included and…

A: The objective of this question is to understand how to record a cash payment in the cash payment…

Q: Describe and use the cash receips journal. What steps are followed in posting from the cash receipts…

A: Cash Receipts Journal:   It is a special book where only cash receipts transactions that are…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.