credit entry Synonyms
No Synonyms and anytonyms found
credit entry Meaning
Wordnet
credit entry (n)
an accounting entry acknowledging income or capital items
credit entry Sentence Examples
- The accountant meticulously recorded a credit entry for the cash received from the customer.
- Since expenses decrease equity, the purchase of office supplies necessitated a credit entry in the appropriate expense account.
- To balance the journal entry, the credit entry for the sale of inventory was mirrored by a debit entry for accounts receivable.
- Verifying the accuracy of financial statements involved double-checking the corresponding credit entries for all debits.
- Modern accounting software automates the process of generating credit entries for various transactions.
- Understanding the difference between debit and credit entries is fundamental to proper bookkeeping.
- A credit entry to the owner's capital account reflected the additional investment made by the business owner.
- When a company pays off a loan, a credit entry is made to the liabilities account and a debit entry to the cash account.
- Analyzing credit entries for revenue accounts helps businesses track their income streams.
- Reconciling bank statements involves ensuring the bank's records match the credit entries for cash deposits in the company's books.
FAQs About the word credit entry
an accounting entry acknowledging income or capital items
No synonyms found.
No antonyms found.
The accountant meticulously recorded a credit entry for the cash received from the customer.
Since expenses decrease equity, the purchase of office supplies necessitated a credit entry in the appropriate expense account.
To balance the journal entry, the credit entry for the sale of inventory was mirrored by a debit entry for accounts receivable.
Verifying the accuracy of financial statements involved double-checking the corresponding credit entries for all debits.
