Credit card accounting
This query is : Resolved
02 March 2016
Mr Ram is a director of Ram Ltd. Payments of the expenses of Ram Ltd. is made through the credit card of Ram. Please explain the accounting treatment.
02 March 2016
Hi,
Debit The Expense Account and Credit the Person who has made the payment on behalf of the company.
Debit The Expense Account and Credit the Person who has made the payment on behalf of the company.
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