issuing a check journal entry

egypngrl · #1 Oct 26, 2006, 03:57 PM

If a check was issued for a business expense, what is my journal entry?

isha_miranda · Oct 26, 2006, 05:18 PM

Quote:

Originally Posted by egypngrl

If a check was issued for a business expense, what is my journal entry?

1. Entry - Processing the AP Invoice

DEBIT YOUR EXPENSE ACCOUNT
CREDIT ACCOUNTS PAYABLE

2. Entry - Cut a the cheque

Debit ACCOUNTS PAYABLE
CREDIT Bank Account



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