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-   -   AP Journal Entires - accrual accounting and cash accounting (https://www.askmehelpdesk.com/showthread.php?t=268702)

  • Oct 12, 2008, 09:05 PM
    P Eugene
    AP Journal Entires - accrual accounting and cash accounting
    What are the journal entries for accrual accounting and cash accounting for an invoice and a payment?
  • Oct 12, 2008, 10:59 PM
    ashley568

    There is no entry for the cash accounting for the invoice. The payment would be
    Cash- debit
    Sales- credit

    The accrual is for the invoice
    AR-debit
    Sales-cerdit

    Payment:
    Cash- Debit
    AR- credit
  • Oct 22, 2008, 10:01 AM
    MF Controller

    The entry should be A/P (accounts payable) not A/R (accounts receivable) if this is an invoice that is being paid.
  • Dec 9, 2011, 12:10 PM
    praveen.bdvt
    Purchases a/c Dr(a)
    To GR/IR a/c(b)

    GR/IR a/c Dr(c)
    To Vendor a/c (d)

    Vendor a/c Dr (e)
    To Bank a/c (f)

    B and c will get knock off, d and e will get knock off and in the final entry will be

    Final enty
    Purchases a/c
    To Bank a/c


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    Pfc Nichols 44
    Firm had sales of 525,000 in the year 2001, by 2012 sales increased to 1200000 what was the average rate of increase
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    Pfc Nichols 44
    I paid 250 a month into 401k after 30 years I accumulated 500000 what is the annual interest earned over thirty years?
  • Jun 23, 2012, 03:37 PM
    paraclete
    What I see is a heap of rubbish which I am not going to correct

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