A business paid $3,800 on account. The journal entry would:?
- olliverLv 64 months ago
From the point of view of the business paying the amount.
DR: Accounts payable 3800
CR: Cash 3800
- SuccessLv 64 months ago
The journal entry would show that they made a payment on their account, reducing the total balance by the amount paid.
- Anonymous4 months ago
The company making the payment or the company receiving the payment?
- danxp2Lv 64 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.
- How do you think about the answers? You can sign in to vote the answer.
- Aster RhoidsLv 64 months ago
Savings or checking?