A business paid $3,800 on account. The journal entry would:?
- olliverLv 62 months ago
From the point of view of the business paying the amount.
DR: Accounts payable 3800
CR: Cash 3800
- SuccessLv 62 months ago
The journal entry would show that they made a payment on their account, reducing the total balance by the amount paid.
- Anonymous2 months ago
The company making the payment or the company receiving the payment?
- danxp2Lv 62 months ago
On account means they didn't pay cash... they used a credit card, or promised to pay later. Use one of the current liability accounts.
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- Aster RhoidsLv 62 months ago
Savings or checking?