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2014-11-22 06:05:00
2014-11-22 06:05:00

debit insurance premium expense
credit cash / bank


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1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry

Compound journal entry is that entry which records more than one business transaction in one single journal entry.

There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.

Check out which is an interactive learning tool dealing with Accounting for the Life-Cycle Events of Bond Liabilities that are (a) Convertible into Common Equity at the Holder's Option and (b) Callable at the Issuer's Option. Journal entries are provided for Issuance; Interest Payments; Discount/Premium Amortization; Conversion; Call; Maturity.

[Debit] Purchases [credit] Cash (partial) [credit] accounts payable (balance)

there are adjustments are in journal entries but there is no certain meaning, definitions for the term 'journal entry adjustment'

Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.

Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.

There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.

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