![]() The debit of 200 represents the travel expense in the income statement of the business. Where does the debit of 200 go on a reimbursed expense journal?įrom the expense claim the business will post the following reimbursed expenses journal entry. As a result, journal entry for advance received from a customer is entered in the books. In certain types of business transactions, it is a requirement for the customer to pay a part of the total amount or the entire sum in advance, for example – security deposit to rent a property, customized items, bulk orders, insurance premium, etc. How is journal entry for Advance received from a customer entered? Journal entries are the base of accounting. Expense Journal entries are the critical accounting entries that reflect the expenditures incurred by the entity. Journal Entry for Expenses Expenses mean the cost of assets or services enjoyed. What does journal entry mean for expense expenses? Other travel expenses include laundry, shipping, tips, and computer rental fees. Travel expenses include meals and lodging and transportation expenses while away from home in the pursuit of a trade or business (including that of an employee).
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