Credit Card
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2010
I want to know about Credit Card.
1.Credit card is an Expenses or assets or liabilities or another.
2.how we can book journal entry in the accounting book.
1.Credit card is an Expenses or assets or liabilities or another.
2.how we can book journal entry in the accounting book.
20 September 2010
it is lke a bank a/c (Liablities side)
journal entries were based on nature of transactions
journal entries were based on nature of transactions
20 September 2010
Credit card is the liability
while incurring expenses
Dr: Expenses
Cr: Credit card liability
while incurring expenses
Dr: Expenses
Cr: Credit card liability
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