MCQs > Finance & Management > Accounts Payable > When a deposit is used as payment, what is the journal entry from the customer's (the person who made the deposit) perspective?

Accounts Payable MCQs

When a deposit is used as payment, what is the journal entry from the customer's (the person who made the deposit) perspective?

Answer

Correct Answer: Debit Service Expense, credit Other Advances

Explanation:

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