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Depend on who perform the services. 1.if it is do by the business is debt becos he will be paid 4 it and money comes. 2.credit if the pays other person 4 the service
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What is the accounting journal entry for service performed on account for 2500.00?
debit credit cash 2500 sales 2500
Is a refund a debit or credit in accounting?
debit
What is the abbreviation for the word Debit in accounting?
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
Difference between debit and credit in accounting?
A debit is money paid out or a loss, a credit in income or a gain.
Why is cash a credit in accounting?
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
What is the accounting journal entry for service performed on account for 2500.00?
debit credit cash 2500 sales 2500
Is a refund a debit or credit in accounting?
debit
What is the abbreviation for the word Debit in accounting?
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
Is an investment a credit or a debit in accounting?
credit
What are accounting rules called?
The accounting rules are called the 'golden rules of accounting' ie debit what comes in and credit wht goes out debit the receiver and credit the giver debit all expenses and loss and credit all incomes and gains.
Difference between debit and credit in accounting?
A debit is money paid out or a loss, a credit in income or a gain.
Why is cash a credit in accounting?
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
Is a service revenue a credit or debit?
Service Revenue is credit in nature because it is an income.
What is Dr and Cr stnd for?
In accounting Dr stands for Debit Cr stands for credit the terms literally mean Debit (left side of the accounting equation) Credit (right side of the accounting equation)
Accounting equation and rules of debit and credit?
Accounting equation: Owner's Equity=Total Equity + Revenue - Expense - Equity of creditors Rules of Debit and Credit: Personal account: Debit the receiver. Credit the giver. Real account: Debit what comes in. Credit what goes out. Nominal account: Debit all expenses and loses. Credit all income and gains.
What is the accounting journal entry for billed customers for services provided?
debit accounts receivablecredit services revenue
Who invented debit and credit rules in accounting?
Luca Pacoli - Father of Modern Accounting
