Ask Experts Questions for FREE Help !
Ask
    ayoka's Avatar
    ayoka Posts: 4, Reputation: 1
    New Member
     
    #1

    Feb 21, 2007, 04:19 PM
    Credit card payments
    What of account should I make a credit card payment? Other expense
    I don't want the payment to show as an expense since I have classfield all the expenses that have been charged. I don't want it to be counted twice.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #2

    Feb 21, 2007, 04:47 PM
    What?

    Let's say you pay your rent with a credit card.

    You:
    Dr. Rent Expense 1,000
    Cr. Credit Card Payable/AP 1,000

    Now, when you go to pay your credit card bill, you:
    Dr. AP 1,000
    Cr. Cash 1,000

    Is that what you mean?
    ayoka's Avatar
    ayoka Posts: 4, Reputation: 1
    New Member
     
    #3

    Mar 1, 2007, 08:48 AM
    Quote Originally Posted by ayoka
    What of account should i make a credit card payment? Other expense
    I dont want the payment to show as an expense since I have classfield all the expenses that have been charged. I dont want it to be counted twice.
    Thanks
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #4

    Mar 2, 2007, 09:25 PM
    You're welcome

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Credit Card Debt.. Not sure what to do [ 14 Answers ]

I recevied a summons at my place of employment to apprear in court. The two credit cards I owe money to I guess are trying to collect. The plaintiff is Unifund CCR Partners, I am of course the defendant.I have tried about 10 lawyers in the last 2 weeks to contact me with the free advise I need but...

Id Requirement When Using Credit Card [ 13 Answers ]

I have heard that it is a violation of the merchants agreement with the credit card company to ask for ID or to require a minimum on a purhase. Is this true? Thanks

Credit card to collection [ 6 Answers ]

My husband and I had a credit card that we unfortunately had to use a lot. We spoke to the credit card company and explained we could only pay a certain amount each month. We explained we were not always able to pay the amount on the bill (but sometimes we were). Instead of working out a payment...

Credit card [ 2 Answers ]

Why would a credit card company offer to take a settlement of $4,700 on a debt of $29,000?

I Need Credit Card [ 2 Answers ]

I Need Credit Card To Purchase Some Books


View more questions Search