Revenue Recognition Journal Entry
Revenue Recognition Journal Entry is Debit the Cash/Bank Account and Credit the Sales Revenue Account. Revenue recognition refers to the […]
Revenue Entries
Accounting
Accounting Entries for Inventory and Cost of Goods Sold
Accounting Entries for Inventory is and Cost of Goods Sold is Debit the Inventory Account and Credit the Accounts Payable.
Accounting
Accounting Transactions Journal Entries
Introduction to Accounting Transactions Accounting transactions are the fundamental actions that trigger changes in an organization’s financial standing. Each transaction
Salary Entries
Payroll Journal Entry
Payroll is an essential part of accounting for any business, as it involves recording employee compensation, taxes, and other related
Receivable Entries
Accounts Receivable Journal Entry
Accounts Receivable Journal Entry is Debit the Accounts Receivable/Debtors/Party Account and Credit the Sales Account. Accounts Receivable (AR) represents money
Accrued Entries
Accrued Expenses Journal Entry
Accrued Expenses Journal Entry is Debit the Expense Account and Credit the Expense Payable or Accrued Expense Account. Accrued expenses
Revenue Entries
Deferred Revenue Journal Entry
Deferred Revenue Journal Entry is Debit the Cash/Bank Account and Credit the Deferred Revenue Account. Deferred revenue, also known as
Basic
Accounting Journal Entry Example
Here are some important examples of accounting journal entries, covering various transactions that a business might encounter. Each example is
Prepaid Entries
Prepaid Expenses Journal Entry
Prepaid Expenses Journal Entry is Debit the Prepaid expenses and Credit the Cash/Bank. Prepaid expenses are payments made in advance
Bookkeeping
Bookkeeping Journal Entries
Bookkeeping involves recording all financial transactions systematically and accurately. Journal entries are the foundation of bookkeeping, as they capture all
Basic
Allowance for Doubtful Accounts Journal Entry
Allowance for Doubtful Accounts is a Debit the Bad Debt Expense Account and Credit the Allowance for Doubtful Accounts. Allowance
COGS Entries
Cost of Goods Sold Journal Entry
The Cost of Goods Sold Journal Entry is Debit the Cost of Goods Sold Account and Credit the Inventory/Purchase Account.