Debit and credit entries examples
[DOC File]Examples of
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For general ledger entries (where Account begins with 1, 2 or 9) only a fund and account is required. +/-/Debit/Credit—Debits/Credits are used for any year to date type journal vouchers. +/- should be used only to record an entry to a University bank account or for budget entries.
[DOC File]CHAPTER 2: ACCOUNTING FOR TRANSACTIONS
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General Journal Page 1 Date Account Title P.R. Debit Credit 2014 Adjusting Entries Dec. 31 Salaries Expense 12,000.00 Salaries Payable 12,000.00 An adjusting entry, such as one for an accrued expense, affects both the income statement and the balance sheet) as it results in an increase (debit) to an expense account and an increase (credit) to a ...
[DOC File]Journal Voucher Entries
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See whether a debit (or credit) balance is mistakenly listed in the trial balance as a credit (or debit). CLUE: when the difference between total debits and total credits equals twice the amount of the incorrect account balance. Recompute each account balance in the ledger. Verify that each journal entry is …
[DOCX File]Table of Contents
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Aug 30, 2009 · Entries in the left column are referred to as debits, and entries in the right column are referred to as credits. Two accounts always are affected by each transaction, and one of those entries must be a debit and the other must be a credit of equal amount.
Debit vs credit
Journal Entry: Debit Credit. 3000 4710 000 000 00 64500 1,000,000.00. 3000 51500 1,000,000.00. Note: The above Journal Entry assumes all invoices are submitted at one time. Separate Journal Entries should be recorded as invoices are submitted. The total amount credited to account 51500 must not exceed the total amount being financed.
[DOC File]BUS 302L Accounting Review Topics 1 - 5
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Journal entry – in addition to the entries above with asset sale, cash, etc. adjusted to reflect the receipt of the additional $1,000 30.06.XX (end of the financial year) Debit
[DOC File]CHAPTERS 3 AND 9—ADJUSTING ENTRIES AND …
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tab. An Accounting Line (Debit & Credit) will have two General Ledger Pending Entries. If you also moved revenue (object code 0221) then an Accounting Line will have four General Ledger Pending entries. See examples below.
[DOC File]What are debits and credits
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All individual debit entries are recorded first, followed by all individual credit entries. Observe in the examples beginning on the next page that after all the debit entries have been recorded, the credit entries are indented to the right of the debit line and recorded, …
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