How is a journal entry recorded?, Accounting Basics

Journal Entries are recorded on a double entry system like debit and credit concept. In order to record a journal entry the following steps require to be followed.

? Enter the Journal entry number
? Enter the Date of transaction
? Enter the Debit item (as per the golden principles of accountancy)
? Enter the corresponding GL folio number
? Enter the Debit amount


Posted Date: 3/30/2013 5:15:24 AM | Location : United States

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