Cheques paid: debit or credit?

by Anonymous

Q: Do you debit or credit cheques paid (to another)?

Cheques paid means less money in your bank account (asset), so you credit "bank."

Comments for Cheques paid: debit or credit?

Click here to add your own comments

Correct Entry
by: Accountaholic

You would debit Notes Payable and credit Cash/cheque

by: Anonymous

No, Cheque is credit because the money out of the business.

Click here to add your own comments

Return to Ask a Question About This Lesson!.

Enjoying this Website?
Help Support it with a Donation


Advertise on

privacy policy

Related pages

profit motive examplesbooks for accounting studentsdirect method cash flow statement formatbasic accounting concepts in hindidouble entry bookkeeping system definitionis cogs an operating expensesubsidiary ledger exampleaccounting journal and ledgermanufacturing overhead calculatorbakery inventory spreadsheetdebtors receivableshow to calculate debtorsbasic bookkeeping teststatement of stockholders equity formatledger balance in bank accountmultiple step income statement showcash withdrawal from bank journal entry in tallydebtors ledger control accountaccounting basics in telugu pdffinancial accounting journalshow do you find the percent markupbalsheetoperating activity cash flowtrial balance exercisefifo lifo inventoryjournal and ledger definitioncredit entry to accounts receivablejournal debit creditmanagerial accounting reports examplesprinciples of accounting answer keycalculate closing inventorynormal balance of income summaryaccounting merchandising journal entriesgross method perpetual inventory systemcompute cost of goods soldcomparative income statement templatecredit and debits in accountingexample cash flow statement direct methodexamples of accounting conceptsdouble entry bookkeeping for dummiesbest book on financial accountingfifo cost formulacogs percentage formulabank cheque samplevat inputs and outputscreditors reconciliation exampleadvantages of fifo methodweighted average inventory costing methoddirect labor vs indirect labordouble entry accounting explainedaccrued accounts payable definitionaccounting concepts journal entriesaccrual examplescogs accountingjournal entry for cash received in advancedef of revenuewhat does excl meancalculating net income formulafifo and lifo in accountingmeaning of ownership in hindiaptitude test for accountingcog cost of goodscomplicated accounting journal entriesequity thesaurushow to use lifo methodwhat are debtors on a balance sheetmanagerial accounting product costowner's equity definitionowe urdu meaningbfwd accountingdouble column cash book example