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According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
dear ........................
The New Electric Railway Journal ended in 1998.
New York Journal American ended in 1966.
New York World Journal Tribune ended in 1967.
[Debit] Car Asset [Credit] Cash / bank
he jumped town, as indicated by his last journal entry.
Today, I made a new investment in a diversified mutual fund to further enhance my investment portfolio. This decision aligns with my long-term financial goals and risk tolerance. I will continue to monitor the performance of this investment regularly to ensure it remains in line with my objectives.
debit cash / bank /assetscredit share capital account
debit cash 500credit equity shares 500
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
[Debit] Building account [Credit] Cash / bank