Search for tag: "general journal"

journal entry collecting payments and paying obligations

How do we create journal entries for collecting payments due a company or paying obligations? What is the general process for creating a journal entry?

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journal entry sales

How do we create journal entries for the sales of goods or services? How do these sales often lead to compound journal entries?

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jounal entry assets

What is the general journal? How do we make journal entries for transactions that increase a company's assets?

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