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Account names are written in the general journal exactly as they appear in the chart of accounts?
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∙ 11y ago
yes
Wiki User
∙ 11y ago
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What is the general ledger journal entry issue an invoice on sale of account?
Debit accounts receivableCredit sales revenue
What will be Journal entry for purchase of building from general reserve account?
General reserve account cannot be used for purchases of building as general reserve accounts is fixed for some limited kind of transactions like
What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
What is the general ledger journal entry to write off accounts receivable?
Under the allowance method, entry would be: Allowance for Doubtful Accounts (DR) Account Receivable (CR)
Doing a general journal entry into myob but an account is not listed when trying to enter it but it is not in the accounts list?
First of all, all accounts needs to be defined in company charts of accounts. So if any account is not already exists, first create it in charts of accounts for any transaction.
What are general ledger accounts?
he general ledger is a collection of the firm's accounts. While the general journal is organized as a chronological record of transactions, the ledger is organized by account. In casual use the accounts of the general ledger often take the form of simple two-column T-accounts. In the formal records of the company they may contain a third or fourth column to display the account balance after each posting.
In which journal is the return of supplies purchased on account recorded?
General Journal
In which journal is the receipt of a promissory note from a customer on account recorded?
The General Journal.
What is journal entry to record return of supplies on account?
debit accounts payablecredit supplies return account
What is journal entry for allowances to debtors?
[Debit] Allowance for debtors account [Credit] Accounts receivable account
What is the proper journal entry for purchasing a computer on account?
[Debit] Computer Asset Account [Credit] Accounts payable account
What record that contains all accounts of company?
general ledger, general journal, special ledger, special journal, column balance ledger.
