Debit Is Used to Record Which of the Following

Section 343 of the Goods and Services Tax Act 2017 states that when a Tax Bill or Invoice has been delivered due to the supply of goods and services and it is. Because this is a cash payment you would credit the cash account decreasing it and debit the dividends payable account decreasing it.

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Record the transaction on the date of payment.

. Debit Entry Debit note in GST. The only other entry needed when issuing a cash dividend is the entry on the date on which the company actually pays the cash dividend. This is because both.

According to Section 238 of the Goods and Services Tax Act 2017 a debit note is a record or document which is delivered or issued under Section 343 by a registered person.

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