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No end-of-month posting is required for the total of the Other Accounts Debit column of the cash payments journal?
Wiki User
∙ 11y ago
True.
The individual entries are what get posted to their respective accounts, not the total.
Wiki User
∙ 11y ago
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When posting the column totals of a cash payments journal a debit should be posted to?
accounts payable
When two accounts are required in one journal entry'the entry is referred to as?
posting
When three or more accounts are required in one journal entry the entry is referred to as a?
Compound Entry
What is the journal entry for partial cash and credit payments?
[Debit] Purchases [credit] Cash (partial) [credit] accounts payable (balance)
How many accounts does A compound journal entry involves?
at least more than once debit and credit account is required to be a compound journal entry.
When posting the column totals of a cash payments journal a debit should be posted to?
accounts payable
What are the accounting journal entries for guaranteed payments to partners?
Debit:Partners Capital Credit: Accounts Payable
When two accounts are required in one journal entry'the entry is referred to as?
posting
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
When three or more accounts are required in one journal entry the entry is referred to as a?
Compound Entry
What is the journal entry for partial cash and credit payments?
[Debit] Purchases [credit] Cash (partial) [credit] accounts payable (balance)
How many accounts does A compound journal entry involves?
at least more than once debit and credit account is required to be a compound journal entry.
Receipts from cash sales of 9500 were recorded incorrectly in the cash receipts journal as 5900 What entry is required in the depositors accounts?
Another entry will be required in cash receipts journal with difference in recorded 4600(9500 - 5900).
A check drawn by a company for 270 in payment of a liability was recorded in the journal as 720 What entry is required in the company's accounts?
debit Bank 450credit accounts payable 450
Can a compound journal entry affect more than 2 accounts?
Yes for compound journal entry at least more than one debit and credit account is required.
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
