One mistake Lewis made in his journal entry was the misspelling of a plant or animal species. Another mistake could be a factual error in his observations or descriptions.
Journal entry is made as soon as when any business transaction occur in business.
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
no entry when invoices received, journal entry made when transaction occured and not when invoices received.
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
No, These two are different. Journal vochar is document through which journal Entries are made in books of accounts
There is no entry required when order is placed instead of entry is made when goods received or payment made in advance.
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
It is made to simplify the recording of regular transactions in the next accounting period
Just the word "journal" is a noun, and therefore doesn't have a tense. Journal has come into use as a verb but it has not made it into the dictionary as a verb. I recommend the phrase 'made a journal entry' or 'wrote a journal' if you want to be correct.
Whenever any business transaction occur It is compulsory to make journal entry so this is true in case of sales as well.