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How to Book Credit Card Rewards Journal Entry

Credit Card Rewards are recognized when earned. Typically this is when the underlying purchase that earns rewards has occurred. Credit Card Rewards are often totalled for the month and booked as a single entry rather than as spending occurs. In this example, a company has earned $1,000 for the month which is recorded as a statement credit.

Debit: Credit Card Liability $1,000
Credit: Credit Card Reward Income $1,000

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Accrued expenses are expenses that have been incurred and are neither invoiced nor paid. For expenses that are invoiced and unpaid, these should be recorded in the proper accounting period via accounts payable
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Commissions should be recorded when earned (when the sale is closed at the employee has right to receive the commission).
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