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What is the journal entry to record accrued interest income?
debit interest receivablecredit interest income
How do you record a journal entry for money recevied from legal judgment?
Debit cashCredit other income
Why use journal entry?
Journal entry is the first step in accounting process and it is used to record the business transections and without recording journal entry it is not possible to generate any kind of report as well as preparation of income statement or balance sheet.
What is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
What are the accounting journal entries to record income?
If receiving cash from a good or service, the journal entry will be something like the following.Cash (debit)Revenue or Income (credit)If you supply a good or service and the customers is going to pay at a later date, less than a year the journal entry will be similar to the following.Account Receivable (debit)Revenue or Income (credit)
What is the journal entry to record accrued interest income?
debit interest receivablecredit interest income
What is the journal entry to record collected fees?
Debit cash / bankCredit fee income
What is the journal entry to record an accrued commission?
debit commission receivablecredit commission income
How do you record a journal entry for money recevied from legal judgment?
Debit cashCredit other income
What is the journal entry to record accrued interest income from note receivable?
[Debit] Accrued interest income [Credit] Notes payable
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.
Why use journal entry?
Journal entry is the first step in accounting process and it is used to record the business transections and without recording journal entry it is not possible to generate any kind of report as well as preparation of income statement or balance sheet.
What is the purpose of journal entry?
A journal records what you're findings are
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 is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
What are the accounting journal entries to record income?
If receiving cash from a good or service, the journal entry will be something like the following.Cash (debit)Revenue or Income (credit)If you supply a good or service and the customers is going to pay at a later date, less than a year the journal entry will be similar to the following.Account Receivable (debit)Revenue or Income (credit)
What is the journal entry to record accrued interest on a mortgage?
(debit) interest income (credit) (debit) interest income (credit)
