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Financial Accounting

Financial Accounting - FinancialAccounting 18:34...

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Financial Accounting 18:34 Apr. 30 Cr Rent expense 2,000 Dr Cash 2,000 May 30  Cr expense 2,000  Expense is always Debit (Dr) Accounts Payable is always Credit (Cr) At the end of an accounts life you credit cash the total expense, and debit  Sep 30 th  Dr loan expense- 33,333   +2,000  Cr accounts payable 33,333 +2,000]] Purchase: Debit Expense, Credit Cash
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