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All kind of payables have a credit balance as a default or normal balance. So by following this rule, bank interest payable also has a credit balance as normal balance.
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What is entry for interest credited into Bank account?
bank account debit and interest payable credit
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
What entry of outstanding salary paid?
[Debit] Accrued salary payable [Credit] Cash / bank
What is the debit and credit in made a payment on accounts payable?
account payable account debit to bank account
What are accounts payable entries?
[Debit] Accounts payable [Credit] Cash / bank
What is entry for interest credited into Bank account?
bank account debit and interest payable credit
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
What entry of outstanding salary paid?
[Debit] Accrued salary payable [Credit] Cash / bank
What is the debit and credit in made a payment on accounts payable?
account payable account debit to bank account
What are accounts payable entries?
[Debit] Accounts payable [Credit] Cash / bank
How do you enter dividends on a journal entry?
[Debit] Proposed dividend [Credit] Dividend payable [Debit] Dividend payable [Credit] Cash / bank
What is the journal entry when cheque issued to creditors is dishonoured?
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
Journal entry for rent payable?
[Debit] Rent Expense[Credit] Rent payableWhen rent paid[Debit] Rent payable[credit] Cash / bank
What is the journal entry for borrow from bank and signed note payable in return?
Entry 1 [Debit] Cash xxxx [Credit] Bank xxxx Entry 2 [Debit] Bank xxxx [Credit] Notes payable xxxx
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
What are the journal entries you write for Goods Purchases?
When Goods purchased on cash[Debit] Purchases xxxx[Credit] Cash/bank xxxxWhen purchased on credit[debit] purchases xxxx[credit] accounts payable xxxxWhen actual payment:[debit] Accounts payable xxxx[Credit] Cash / bank xxxx
What is the journal entry for bill of goods?
debit purchasescredit accounts payable
