amagdy

 Profile Answers by amagdy 

• Apr 20th, 2009

 

According to matching principle, all expenses and revenue must be recorded at the period where they are realised. So to create accrual we debit the expense for example recording telephone expenses that was not passed to the GL we debit tele exp and credit Accrual payable.

chinnaguntupalli

 Profile Answers by chinnaguntupalli 

• Sep 13th, 2009

 

It is an entry to create provision for unaccounted expenses in the current month for which services/goods already recieved.

sundar

• Feb 22nd, 2013

 

3050000 account debit
To customer account credit