Sales Return Day Book

The sales return day book is used to record goods returned by customers. The sales return book is not part of the double entry posting and is simply a chronological list of credit notes issued to customers and used to post the accounts receivable and general ledgers.

Sales Return Day Book June 23rd, 2018Team
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Purchases Returns Day Book

The purchase return day book is used to record goods returned to suppliers. The purchase return book is not part of the double entry posting and is simply a chronological list of supplier credit notes used to post the accounts payable and general ledgers.

Purchases Returns Day Book June 5th, 2018Team
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Closing Journal Entries

Closing journal entries are used to close the temporary accounts for the accounting period, and transfer the balances to the retained earnings account. The accounting closing entries are part of the accounting cycle.

Closing Journal Entries October 15th, 2018Team
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General Journal in Accounting

The general journal is a journal used to record transactions which do not belong in any of the other special journals. The journal is not part of the double entry posting and is simply a list of journal entries in chronological order.

General Journal in Accounting April 24th, 2018Team
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Cash Disbursement Journal

The cash disbursement journal is used to record cash paid by a business and in particular cash paid to suppliers for credit purchases. The cash disbursements journal is not part of the double entry posting and is simply a list of information relating to cash payments used to post the subsidiary and general ledgers.

Cash Disbursement Journal June 15th, 2018Team
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Cash Receipts Journal

The cash receipts journal is used to record cash received by a business and in particular cash collection from credit sales to customers. The cash receipts journal is not part of the double entry posting and is simply a list of information relating to cash receipts used to post the subsidiary and general ledgers.

Cash Receipts Journal June 15th, 2018Team
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Sales Journal (Sales Day Book)

The sales journal is used to record credit sales to customers. The sales journal is not part of the double entry posting and is simply a list of information from merchandise sales invoices used to post the accounts receivable and general ledgers.

Sales Journal (Sales Day Book) June 5th, 2018Team
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Purchases Journal (Purchase Day Book)

The purchases journal is used to record credit purchases from suppliers. The purchases journal is not part of the double entry posting and is simply a list of information from purchase invoices used to post the accounts payable and general ledgers.

Purchases Journal (Purchase Day Book) June 5th, 2018Team
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Special Journals to General Ledger Entries

The special journals to general ledger entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of special journals to the general ledger at the end of an accounting period.

In each case the journal entries show the debit and credit account together with a brief narrative.

Special Journals to General Ledger Entries June 18th, 2018Team
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Adjusting Journal Entries – Common Examples

There are numerous types of adjusting journal entries, but among the most common usually encountered by a business are Interest expense accrual, payroll accrual, unearned revenue, and prepaid expenses journals.

Adjusting Journal Entries – Common Examples October 9th, 2018Team
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Reversing Entries

Reversing entries are optional accounting journals which are made at the start of an accounting period, in order to cancel the adjusting entries made at the end of the previous accounting period, and simplify the bookkeeping process.

Reversing Entries November 6th, 2016Team
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Adjusting Entries

Adjusting entries are accounting journal entries that are to be made at the end of an accounting period. Adjusting entries are made to ensure that income and expenditure is allocated to the correct accounting period, this means that the accounting records are completed on an accruals basis and are in compliance with the matching principle.

Adjusting Entries November 6th, 2016Team
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