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I am assuming this question is asking what Accounting journal entries are?
Each of a firm's transactions are recorded in journals. Each major transaction is recorded in the General Journal, where various repetitive transactions are recorded in special journals, with the totals translated into the General Journal later. These journal entries are the basis for the General Ledger, the Trial Balance, and the Financial Statements.
There are two components to any journal entry: Debits and Credits. Whenever you debit accounts in your journal entry, you must credit other accounts for an equal amount. Your total debits should always equal total credits. As an example, these are what the journal entries for the sale of inventory to a customer might look like.
Part 1 - The Inventory was sold to an outside customer for $100.
Debit: Cash $100
Credit: Revenue $100
Part 2 - The Cost of the Inventory credited to the books
Debit: Cost of Goods Sold $75
Credit: Merchandise Inventory $75
What else can I help you with?
What are the advantages and disadvantages of journal entries in accounting?
what is the disadvantages of general journal
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
Letter of credit journal entries?
To get a letter of credit journal entries you must write to the accounting department. It is important to include the reason for the letter, so that you can get the information you request.
What is the accounting journal entries for penalties and interest an taxes?
The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
Why is it important that companies make adjusting journal entries?
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
What are the advantages and disadvantages of journal entries in accounting?
what is the disadvantages of general journal
General journal entries?
Journal Entries are used to record accounting transactions. blady bastered............
What are journal entries that bring the accounts up to date at the end of the accounting period called?
closing entries
What are the journal entries that bring the accounts up to date at the end of the accounting period called?
closing entries
What are the journal entries that bring the account up to date at the end of the accounting period called?
closing entries
What is adjustment entries?
Adjusting entries are journal entries which are normally made to allocate income or expenditure to the accounting period in which they actually occured.
What the accounting journal entries to record purchase of basketball?
debit basketballcredit cash
What are the accounting journal entries to record donated equipment?
debit assetcredit donations
Where you can find practice exercises for Accounting journal entries?
Search Google thoroughly....
Who invite journal entry?
To record a journal entry, an individual would typically initiate it. Journal entries are used to document financial transactions in accounting, so they are typically made by the company's accounting or finance team members in accordance with accounting principles and guidelines.
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
Letter of credit journal entries?
To get a letter of credit journal entries you must write to the accounting department. It is important to include the reason for the letter, so that you can get the information you request.
