debit accounts receivable
credit services revenue
Account receivable 120000 debit and sales service credit by 120000
Journal of Accounting Research was created in 1963.
what is the disadvantages of general journal
A narration is a description of the journal entry.eg:Dr CrBank 1000Electrical Services Revenue 1000(received cash payment for electrical services performed)The last part (in italics) is the narration.
account or accounting equation
Journal Book
cash receipts journal
Journal of Accounting Research was created in 1963.
Journal phase of accounting is to journalize the business transaction in Journal as a first record in books of accounts.
A journal is a magazine. Or for accounting it is a ledger book.
Matching" in accounting means to make an entry in the journal
what is the disadvantages of general journal
A narration is a description of the journal entry.eg:Dr CrBank 1000Electrical Services Revenue 1000(received cash payment for electrical services performed)The last part (in italics) is the narration.
Following are four special journals in accounting: 1 - Sales Journal 2 - Purchase journal 3 - Cash receipt journal 4 - Cash payment journal
account or accounting equation
Journal Book
The journal entry to record the purchase of a warranty in financial accounting would be to debit the Warranty Expense or Warranty Cost account and credit the Unearned Warranty Revenue account. This reflects the cost of providing the warranty coverage and defers the recognition of revenue until the warranty services are actually provided.
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period