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What are the steps in processing business transactions?
The first step in processing a business transaction is to identify the transaction. Next, classify the transaction, record, and report the transaction.
You record the debit entry for transaction a 5 1 in the journal as?
You record he credit entry for transaction (a) 5/1 in the journal as
Why documents necessary in business transaction?
to record the transaction and the purpose so as to better keep things organized.
How do you reconcile credit card?
Carry a book with you and record every credit card transaction. When you get your bill see if they match.
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.
What are the essential in Transaction Processing System?
transaction processing system are computerized system that perform and record the daily routine transaction necessary to conduct business
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.
Where to purchase a good credit score from someone?
You cannot purchase your personal credit record from someone else. It is your credit history that has been reported by your creditors to the central credit data gathering agencies. It's like asking, "Where can I purchase a good dental record?"
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What is a purchase returns day book?
purchase return book it for the returns outwars.
What journal entry is used to record purchase discounts?
It depends on the kind of discount and agreement that has been agreed upon in the sale transaction. Here is an example of a journal entry for discount for a normal credit sale transaction: Accounts receivable 9000 (dr) Discount from sale 500 (dr) Sales 9500 (cr)
What is the purpose of journal entry?
A journal records what you're findings are
