Question: What is unique about paying down a credit card? All expenses that make up the balance on the credit card have already been entered into

What is unique about paying down a credit card? All expenses that make up the balance on the credit card have already been entered into QBO. Creating a journal entry is preferred over a transaction form when paying down a credit card. If you aren't paying the entire balance due, you must select the credit card charges you want to pay. You can't make partial credit card payments

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

11. Akim is entering a bill from a new supplier whose name does NOT appear in the Supplier drop-down menu. What should he do? A. Close the Bill window, go to the Suppliers tab, create the supplier...

1. (Points: 1) The primary purpose of hiring a public accounting firm to examine the financial statements of the company is a. to assure no fraud has been committed by the company's management b. to...

Hi! Attached is the case study. My questions for this case study is Conceptual (C)C3.3) on page 8. Conceptual (C) C3.3) Do you believe the independence rules are sufficient to ensure that the public...

Draw the sequence diagrams for the following business events from the case study: - A User checks-out the shopping cart and completes payment. 2. INSTRUCTIONS TO CANDIDATES: 1. Write your Student ID...

Provide the use case description diagram for ordering ice creams by an unregistered user. Thank you 2. INSTRUCTIONS TO CANDIDATES: 1. Write your Student ID in the box provided above. Use the reading...

1. Before you can enter time slips journal information, you must a. identify the employee in the employee ledger who will complete the activities b. identify the inventory services that are billed on...

Question 1 2.5pts The process of transferring the data from the journal into the ledgers is called: Group of answer choices footing transponding posting journalizing Flag this Question Question 2...

James Liu had loved photography ever since he received his first camera as a gift from his grandmother for his fourth birthday. When he was young, he took pictures of everything that interested him,...

An investor has $10,000 to invest; the current spot rate of British pounds is $1.800.The three month forward rate of the pound is $1.780.The annual interest rate in the US is 4%; the annual interest...

A gas-turbine plant operates on the regenerative Brayton cycle with two stages of reheating and two-stages of intercooling between the pressure limits of 100 and 1200 kPa. The working fluid is air....

Evaluate this statement: The current structure of the American Social Security system results in an intergenerational transfer of income and wealth.

WHAT TERM IS BEST DESCRIBED AS THE PROCESS THAT CALCULATES WHEN AND HOW MUCH OF RAW MATERIALS, PARTS AND SUBASSEMBLIES ARE NEEDED FOR PRODUCTION? Capacity requirements planning Distribution...

11. Now consider the different goals you have for your life in the future. See these goals in relation to your core values and your roles. How do goals affect your roles and your values? Development...

Does this future have a sound, an image, a taste or a smell that you can evoke here and now?

2. In this chapter, the reader should reflect on the following concepts: benchmark-ing, competence development, thought dispositions, identity and perception.