What Two Accounts Are Affected When A Business Pays Cash For A Cell Phone Bill
What 2 Accounts Are Affected When A Business Pays Cash For A Cell Phone Bill When a business pays cash or pays through check / cheque, then Communication Expense Account and cash or bank account is affected. Example: Mr. A is a sole proprietor pays cash of Rs. 3000 for a cell phone bill. What is the journal entry and the effect of this transaction on the accounting equation? Paid Cash For Cell Phone Bill Journal Entry The journal entry to record for paying cash for cell phone bill is shown below: Communication Expense a/c 3000 ...