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The journal entry for fuel refilling would involve debiting the fuel expense account to recognize the cost of fuel purchased and crediting the cash or Accounts Payable account to show the payment made or liability incurred. This transaction reflects an increase in expenses and a decrease in cash or an increase in accounts payable.
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What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
To refuel your boat when should you turn on the power ventilation system?
before refilling your fuel tanks
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
What is the journal entry for bill received?
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
What is the journal entry to charge-off a loan?
journal entry to write off a loan
What are the types of journal entry?
1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry
Why do you pass an journal entry?
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
When was Another Journal Entry created?
Another Journal Entry was created on 2005-09-27.
