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When two accounts are required in one journal entry'the entry is referred to as?
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∙ 11y ago
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∙ 11y ago
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When three or more accounts are required in one journal entry the entry is referred to as a?
Compound Entry
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).
No end-of-month posting is required for the total of the Other Accounts Debit column of the cash payments journal?
True. The individual entries are what get posted to their respective accounts, not the total.
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
When three or more accounts are required in one journal entry the entry is referred to as a?
Compound Entry
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.
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).
No end-of-month posting is required for the total of the Other Accounts Debit column of the cash payments journal?
True. The individual entries are what get posted to their respective accounts, not the total.
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 a scientific journal also called in English besides 'Journal'?
A scientific journal is also commonly referred to as an academic journal or a research journal.
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
What is Journal phase of accounting?
Journal phase of accounting is to journalize the business transaction in Journal as a first record in books of accounts.
How do you explain accounts receivable in a journal entry?
Debit accounts receivableCredit sales revenue
