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How do you apply cash advance in journal entry?

Updated: 9/21/2023

Wiki User

∙ 9y ago

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debit advances account
credit cash

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∙ 9y ago

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What is the Journal entry for advance?

Debit advance paidCredit cash / bank

What is the journal entry for cash advance to employee's pay?

Debit advance salaryCredit cash / bank

What is the journal entry of payment received in advance?

Debit advance cash receivedCredit unearned revenue

What is the Journal entry for purchase of asset by advance payment?

Debit advance payment for assetCredit cash / bank

What is the journal entry for Advance Medical Expense?

Debit prepaid expensesCredit cash / bank

Related questions

What is the Journal entry for advance?

Debit advance paidCredit cash / bank

What is the journal entry in granting the travel in cash advance?

debit advance cashcredit cash / bank

What is the journal entry for cash advance to employee's pay?

Debit advance salaryCredit cash / bank

What is the journal entry of rent recieved in advance?

cash debit rent in advance credit

What is the journal entry of payment received in advance?

Debit advance cash receivedCredit unearned revenue

What is the Journal entry for collected 770 in advance from a customer?

A cash advance received from customer journal entry is required when a business receives a cash payment from a customer in advance of delivering goods or services.

What is the Journal entry for purchase of asset by advance payment?

Debit advance payment for assetCredit cash / bank

What is the journal entry for cash paying to a staff as advance?

[Debit] Staff Advances [Credit] Cash / bank

What is the journal entry of insurance paid in advance?

debit prepaid insurancecredit cash / bank

What is the journal entry for Advance Medical Expense?

Debit prepaid expensesCredit cash / bank

What is the journal entry of rent paid in advance?

Debit prepaid rent and credit cash.

What is the journal entry for Advance Salary paid to ram through Bank?

advance salary a/c dr to cash

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