Hello
I am studying for my 1st exam and working as an accountant.
The company that I am working with has 2 branches in US and Canada. Canada branch is sort of like a mirror of US. So sometimes, we need to pay Canada expenses with US checking account.
In doing this, when I apply payment in Canada branch should it credit a liability since we are using US checking account or should it credit cash/asset?
Please help if anyone knows the answer.
Leutrime