1 August we received an invoice for a subscription for the period August to July. What is the entry? pmt terms: days from invoice date

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What are the entries of purchase payable and sales receivable? from journal to f...
Posted by:
Althaf Ali Jalaludheen
12-December-2018

Accounting Banking &amp Finance

Question added by Abdalrahim Abudayya , Project Specialist , Sigma Tech
Date Posted: 2020/04/14

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2 Answers

by Deleted user

THE ENTRY WOULD BE AS FOLLOWS:

PREPAID SUBSCRIPTIONS (DEBIT)

ACCOUNT PAYABLE (SERVICE PROVIDER) (CREDIT)

PAYMENT TERMS: ADVANCE PAYMENT

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Abdallah moursy

by Abdallah moursy , chief executive officer ceo , FREE HANDZ

Pmt terms : day for invoice is 31/7

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