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How do you account for an interest free promissory note?
Similar to A/R. Set up a Note Receiveable, and credit the note (debit cash) as payments are received.
What is the debit and credit?
For the above questions, the three golden rules of accounting policies will give us the best answers. 1. Real a/c: Debit what comes in and Credit what goes out. Eg. Cash paid debtor. 2. Personal a/c: Debit the receiver and Credit the giver. eg. Ram (Dr)received cash from Rahim- (Cr) 3. Nominal a/c: Debit all expensed and losses and Credit all Incomes and gains. Eg Loss on sale of comupter. Cash (Dr) computer (Cr) Please correct me if I am wrong... Thank you, Praveen
What credit card starts with 5108?
A credit card number starting with 5108 is typically associated with a Mastercard. The first digit of a credit card number is known as the Major Industry Identifier (MII), which identifies the type of industry that issued the card. In this case, 5 is the MII for the banking and financial industry, which includes Mastercard. It's important to note that the first six digits of a credit card number, known as the Issuer Identification Number (IIN), can vary depending on the issuing institution.
How many customers does the Bank of America have?
Bank of America currently has about 57 million customers and spans more than 40 different countries worldwide. One thing to note, some of these people just carry a Bank of America debit card, while others may have a mortgage or loan through the bank.
What is a five pound note?
A five pound note (or a £5 note) is a banknote worth £5. If this is a modern note, it is probably a British £5 note.
What is a debit note IN accounting terms?
a debit note is an entry recorded to debit an account
What is the difference between Debit memo and Debit note?
HI, There is no difference between debit note & debit memo, both or same.
Debit note form?
debit notes
What is a debit note and what is it used for?
A debit note is a document that is used by a buyer to inform the company of the quality of goods and price of the goods that are being returned. Debit note is also known as a debit memo.
What is format of debit note and credit note?
Debit note is money being taken out Credit note is money being brought in
Format for debit note?
yes
Who issue debit note?
buyer
How do you use debit note in tally 9.0?
go to gateway of tally then voucher and click on debit note of the screen your right side
Difference between debit note and invoice?
An invoice is raised by the seller. Whereas , a debit note is raised by the seller for indirect expenses to complete the sale process. For example, shipping charges. The seller will bill this indirect expense as a debit note.
What is the meaning of debit and credit note?
Debit Note - Money being taken out such as invoiced or charged Credit Note - Money being given back such as refund or over payment.
Why issue a debit note instead of an invoice?
Debit invoice is the invoice which is the customer has to pay for his usage
How do you do a journal entry for sale of equipment with a promissary note?
debit equipment accountcredit promisary note
