"Every journal entry contains (1) the date of the transaction, (2) the titles of the accounts to be debited and credited, (3)the dollar amounts of the debits and credits, (4)a brief explanation of the transaction. "
In March one of her most reluctant seventh graders plagiarized a journal entry about “Tomorrow, When the War Began, ” a novel by John Marsden about children coping with an invasion of Australia.
When journal approval is enabled and a journal entry's journal source requires approval, the journal must be approved by the appropriate level of management before any further action can be taken.
The journal entry to record depreciation expense consists of a debit to Depreciation Expense and a credit to Accumulated Depreciation.
Enter the transaction in the journal based on the double-entry accounting, including a brief explanation for the journal entry. The debit side of the entry is entered first and the credit side next.
