Construction
Advance Payment to Material Supplier
Paying a cement or rebar supplier in advance to secure materials at an agreed price.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Advances to Suppliers | Asset (+) | 50,000.00 | - |
| Cash in Bank | Asset (-) | - | 50,000.00 |
💡 Accountant's Note
Supplier advances are current assets, not expenses. They are offset against the supplier's invoices as materials are delivered.
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