How to make accounting entries after receiving the deposit

Accounting entries for deposits received:

Borrow: Cash on hand or bank deposit?

Loan: Other Payables -XX Building

When the deposit is refunded:

Borrow: Other Payables -XX Building

Loan: Cash on hand or bank deposit?

Extended data:

Accounting entries should pay attention to:

1. Determine which accounting subjects are involved in this business and what accounting subjects it belongs to, such as assets and liabilities.

2. Determine the direction and amount of account borrowing. That is to say, the borrowing direction, account name and amount must be correct.

3. Where there are detailed subjects, be sure to write down the detailed subjects.

4, the summary of accounting entries must be concise, not too complicated to understand, this is the first step to make accounting entries;

5, the use of accounting subjects must be accurate, not indiscriminate use of accounting subjects, but not excessive use of accounting subjects;

6. The detailed accounts of accounting subjects must be consistent and lasting. A customer can't hang several accounting subjects and can't use accounting subjects at will.

References:

Baidu Encyclopedia-Accounting Entry