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Who is the central interest of accounting?
the central interest of accounting
What transaction is found first on accounting record?
The "journal" is the first transaction found on the accounting record.
How do you record interest earned?
To record interest earned, you typically make a journal entry that credits an interest income account and debits an asset account, such as cash or accounts receivable, depending on whether the interest has been received or is accrued. For example, if you earned $100 in interest, you would debit the cash account and credit the interest income account. This ensures that your financial statements accurately reflect the income earned during the accounting period.
A record in the accounting equation?
Transaction
Who are the users of accounting record?
accountants
What is individual accounting?
Individual accounting is related to record of any sole trader .
What is the abbreviation for the word Debit in accounting?
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
What definition of accounting?
A narrative or record of events.
What is legder?
A written record of Accounting information.
In accounting interest is usually associated with?
notes receivable
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
What is the accounting journal entry to record loan fees amortized?
Debit: Deferred loan origination fees Credit: Interest income
