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How can one tell what goes in which account.
hasan296
Feb 17, 2009, 06:48 PM
How can one tell what goes in which account. Ex. Made a payment on account $145
ROLCAM
Feb 17, 2009, 07:53 PM
DEBIT Supplier Account $145.00
CREDIT Bank Account $145.00
Being a payment on account of
A supplier.
pready
Feb 18, 2009, 02:10 PM
The correct entry is:
Debit Accounts Payable for the amount
Credit Cash for the amount