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What is another name for the general journal in accounting?
the information is entered in the general journal, which is called the book of original entry.
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
Is a journal entry required when switching from straight line to sum-of-the-years'-digit?
Yes journal entry to adjust the depreciation charge is required while shifting from one method to another method.
What is the journal entry when a term deposit is created?
Debit term depositCredit cash / bank
What is the structure of a journal entry?
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.
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
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.
What is the journal entry for bill received?
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
What are two mistakes Lewis made in his journal entry?
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.
What is the journal entry to charge-off a loan?
journal entry to write off a loan
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
