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You record the debit entry for transaction a 5 1 in the journal as?
You record he credit entry for transaction (a) 5/1 in the journal as
What happens if the adjusting entries to the general ledger are wrong?
You would reverse the journal entry then record the correct entry.
What are the types of journal entry?
1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry
Adjusting journal entry to record bad debt?
Debit bad debtsCredit accounts receivable
What is the journal entry to record letter of credit?
I received letter of credit from my customer how i have to enter my entries
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
How do you record in journal entry the receipt of cash from credit?
debit cashcredit accounts receivable
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
How do record journal entry when the inventory is thrown away?
There are various ways to record a journal entry when the inventory is thrown away. The standard entry is to debit the cost of goods sold and credit the allowance for the obsolete inventory.?æ
How do you record a journal entry for donatiOn received?
[Debit] Cash [Credit] Donation
How do you record journal entry of SALE land on credit?
debit accounts receivablecredit land account
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
