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Bought Printer For Cash / Cheque Or On Account / Credit Journal Entry With The Help Of An Example When a company or corporation purchased a printer for cash or by cheque, for use in the business, then we debit printer account (or Office Equipment Account ) and credit cash or bank account. If the company purchased printer on account or credit, then, printer account, as an asset, is debited and Accounts Payable Account / Sundry Creditors Account is credited. Example: A company purchased a computer printer on account for $500. The entry to record this Business Transaction is shown below:                               Computer Printer a/c  $500                                                                        Account...

Journal Entry For Commission Received Partially By Check And Partially Received In Advance We can either record two entries or a single combine entry. In both cases, the result is the same. Method 1 Firstly, we record the entry at the time when the Commission Received in full amount:                                           Bank a/c  $20,000                                                               Commission Revenue a/c  $20,000                                                          (Commission Received By Cheque) The portion of Commission revenue account ...

Unearned Revenue Adjusting Entry Resulted In The Debit And Credit To What Accounts? In an Unearned Revenue Adjusting Entry , we debit Unearned Revenue Account as a Current Liability and credit relevant Revenue Account when the company earned the revenue account. Initially, when the company received cash / bank from clients in advance for services which are to be rendered in future, then cash or bank account is debited and unearned revenue account, as a current liability, is credited as the company did not earn the revenue and now it has to performed the services against the cash or check / cheque received from the clients. So, initially, when the company received Cash or check received, and deposited into bank account, from client, then we record the following entry as shown below:                                 Cash a/c / Bank a/c  XXX                ...