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form_title=Operating Line of Credit form_header=Your business essentials include the money use to continue operating and fill the hole between Accounts Payable and receivable. Get that money through a business line of credit. Does your business have short term cash flow problems?= () Yes () No Do you run a seasonal business?= () Yes () No Do you currently have an operating line of credit?= () Yes () No
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How do you create a Journal Accounting entry for Operating expenses paid in cash 4600 and on account 2000?
Operating Expenses (Debit) 6,600 Cash (Credit) 4,600 Accounts Payable (Credit) 2,000
Does it hurt my credit to close a savings account?
no. You will hurt your credit when you close an open line of credit.
Line of credit is credit or debit?
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What is credit liabilities?
A liability is something you "owe" another person or company. A credit liability "usually" refers to a credit you owe, for example, an account payable may be classified as a "credit liability". Let's say your company purchased a computer system on credit, the balance you owe for the purchase is your "credit liability."This is a distinction between other liabilities the company owes, such as Salaries Payable, Income Taxes Payable, etc, as these "payable accounts" are generally not of the "credit line", just a debt owed. Credit Liability is generally something the company owes by way of "credit", this does not include other operating expenses.
Do credit cards instantly debit a bank account when a transaction occurs?
When a transaction occurs, a credit card does not instantly debit a bank account. Since a credit card is linked to a line of credit, it is dependent on the user to make individual payments in order to replenish that credit line.
