What would be the entry we pay off credit?

shweta gawankar Posts: 5, Reputation: 1

New Member

Aug 2, 2012, 06:35 AM

What would be the entry we pay off credit?

What would be the entry we pay off credit?

paraclete Posts: 2,706, Reputation: 173

Ultra Member

Aug 2, 2012, 06:51 AM

What sort of credit? If you paid cash then debit loan credit cash

Add your answer here.

Check out some similar questions!

Owe about 30,000 in credit card debt,I am 63 yrs. I have pay plans but cannot pay any [ 1 Answers ]

Have a payment plan but i am not able to pay anymore,husband out of work.what can i do?

Best to pay an amt. To each credit card or pay two off completely [ 1 Answers ]

Hello. We have about $2,000 to use towards our credit card debt. We have several cards, all closing in on their limit. Which of the following would be best: 1. This amount will pay off two, possibly three or close to three cards (one of the cards would be for a home improvement store that...

What do I debit/credit in journal entry/adjusting entry? [ 1 Answers ]

Hi. I am unsure about the correct way to debit/credit these entries. Can someone help me? Window Washing Company opened on July 1, 2010. During July the following transactions were completed: July 1 Issued 14,456 shares of common stock for $14,456 cash. July 1 Purchased used truck for...

Credit entry [ 5 Answers ]

A credit entry would cause a decrease in Freight-in and Freight- out, isn't it? Since both of them have normal debit balance. My tutorial question only stated freight-in. Can someone explain? Thx!:)

Do I pay sell my stock, pay off my mortgage or credit card debt? [ 1 Answers ]

Hello, Here are my dilemmas. I own a two family home worth $925,000. I have $95K and five years left on this mortgage. This home gives me about $1,200 in income AFTER expenses are paid each month. I don't live in this home. I have $135K in a 401K and approximately $135K in stock. I have...