Prepayment and Journal Entry | Dataford Interview Questions

What is Prepayment? and tell me journal entry

Write a PostgreSQL query that identifies posted prepayment records and returns the corresponding accounting entry. A prepayment is an amount paid before the related goods or services are received, normally recorded by debiting a prepaid asset and crediting cash or accounts payable.

Output

One row per valid posted prepayment
Return prepayment_id, description, amount, debit account details, and credit account details
Include only positive posted prepayments with valid account references
Order by payment_date ascending, then prepayment_id ascending

Schema

prepayments

Column	Type	Description
prepayment_idPK	INT	Unique prepayment identifier
description	VARCHAR(150)	Description of the prepaid item or service
payment_date	DATE	Date the payment was recorded
amount	NUMERIC(12,2)	Prepayment amount
payment_timing	VARCHAR(20)	Whether payment was made before or after receipt
status	VARCHAR(20)	Accounting posting status
debit_account_code	VARCHAR(20)	Account debited for the prepayment
credit_account_code	VARCHAR(20)	Account credited for the prepayment

accounts

Column	Type	Description
account_codePK	VARCHAR(20)	General ledger account code
account_name	VARCHAR(100)	General ledger account name
account_type	VARCHAR(30)	Classification of the account

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