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When two accounts are required in one journal entry'the entry is referred to as?
posting
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).
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.
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 two accounts are required in one journal entry'the entry is referred to as?
posting
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).
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
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.
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
What will the journal entry of accounts recievable?
debit accounts receivablecredit sales revenue
What happends when recording a journal entRy?
When recording done as journal entry any business transaction is recorded in books of accounts and become part of business books of accounts.
What is the journal entry for parent company paid rent to holding company?
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
How do you explain accounts receivable in a journal entry?
Debit accounts receivableCredit sales revenue
What is the journal entry for accounts receivable?
debit accounts receivablecredit sales
