Supplier Opening Balance Journal Entry
Riya
Feb 04, 2023 - 2 mins read
Supplier Opening Balance Journal Entry to credit the Accounts payable and Debit with Inventory account. Let's make the journal entry like this.
Journal Entry for Supplier Opening Balance
| Account | Debit | Credit | |||
| 1550 - Goods Received Account - Inventory Account(Assets) | 5,000.000 | ||||
| 2100 - Account Payable- Current Liability | 5,000.000 | ||||
| Total | 5,000.000 | 5,000.000 | |||