How do I go about journalizing an entry that is paid by using a check?
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How do I go about journalizing an entry that is paid by using a check?
If a Check is received:
Debit Cash for the amount
Credit Accounts Receivable for the amount.
If a Check is sent out from the company:
Debit Accounts Payable or the Appropriate Expense Account for the amount.
Credit Cash for the amount.
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