accounting entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2010
what will be the accounting entry when a payment is made to a hospital using credit card. ie in the books of hospital and also in the books of credit card co.
26 February 2010
Nilesh Shah Replies:
In the books of the hospital
Bank a/c will be debited & Professional fees will be credited.
In the books of the credit card company,
Payer's a/c will be debited & Bank a/c anc service charges a/c will both be credited
In the books of the hospital
Bank a/c will be debited & Professional fees will be credited.
In the books of the credit card company,
Payer's a/c will be debited & Bank a/c anc service charges a/c will both be credited
26 February 2010
In the books of hospital :
Bank A/c DR
To Prof.fees Cr
(naration from whom it is recd)
In the books of CC Co :
Dr Party's /customer's a/c
CR Bank a/c
(naration to whose bahalf it is paid)
Bank A/c DR
To Prof.fees Cr
(naration from whom it is recd)
In the books of CC Co :
Dr Party's /customer's a/c
CR Bank a/c
(naration to whose bahalf it is paid)
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