Accounting Entries for Membership Card Spending,

The accounting entries when the membership card is recharged are as follows,

Borrow: Bank Deposit or Inventory Cash,

Loan: Advance Receipts,

Accounting entries when the membership card is actually spent are as follows,

Borrow: Advance Receipts,

Loan: Revenue from Main Business,

Credit: Taxes Payable - VAT Payable - Output Tax,

Borrow: Cost of Main Business,

Credit: Inventory Goods, etc.