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There is always two entries at minimum. Remember the accounting equation...
Assets = Liabilities + Owners Equity (Stockholders Equity)
For every action that must be an equal and opposite reaction. Simply put for every Debit there must be an equal Credit. So there has to be at least two entries, one debit and one credit.
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∙ 9y ago
Patricia Steele
At least two
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Difference between journal and ledger?
One of the difference is that the transactions are usually first recorded in the journals and then later recorded in the general ledger. The other difference is that the entries in a journals are usually chronological order whereas the entries in a ledger are grouped according to the given transaction.
When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?
2
After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?
2
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What does it mean when after posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?
9
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Is local deadlock involves one transaction that requires a record held by a second transaction at one site while the second transaction requires a record held by the first transaction at a differents?
yes
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Difference between journal and ledger?
One of the difference is that the transactions are usually first recorded in the journals and then later recorded in the general ledger. The other difference is that the entries in a journals are usually chronological order whereas the entries in a ledger are grouped according to the given transaction.
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When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?
2
After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?
2
What type of transaction is used to transfer accountable EAID items from one organization to another?
FET transaction.
