Ricardo
Ricardo asked in Business & FinanceSmall Business · 3 months ago

A business paid $3,800 on account. The journal entry​ would:?

5 Answers

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  • olliver
    Lv 6
    3 months ago

    From the point of view of the business paying the amount.

    DR: Accounts payable 3800

    CR: Cash 3800

    Source(s): https://www.double-entry-bookkeeping.com/accounts-...
  • Success
    Lv 6
    3 months ago

    The journal entry would show that they made a payment on their account, reducing the total balance by the amount paid.

  • Anonymous
    3 months ago

    The company making the payment or the company receiving the payment?

  • danxp2
    Lv 6
    3 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 Rhoids
    Lv 6
    3 months ago

    What account?

    Savings or checking?

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